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Wait for a possible sell position from around 108.790.

Wait for a possible sell position from around 108.790. | 03 May 2021

03 May 2021, USD/JPY

We're sellers towards 104.959.
Wave Analysis
We continue to see struggling below the upper trendline. This is a possible sign that buyers are loosing steam. As it is now, we want to see a clear rebound sign from the same trendline to pick a possible long term sell position towards 104.356 and may breakout to the lowerside towards 101.440 or even lower. If the price should break above the upper trendline, then we will be looking for long term buy positions towards 111.700 and may extend much higher with our next target set at 118.00.
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Trade Recommendations:
Wait for a possible sell position from around 108.790.
Bob Stan
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