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Look for long positions towards 111.721.

Look for long positions towards 111.721. | 13 May 2021

13 May 2021, USD/JPY

Look for long positions towards 111.721.

Wave Analysis

Just as previously anticipated the US Dollar rallied to the upperside and is still pretty much bullish. As long as the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 111.721 towards 113.160 or even higher. A rebound from 111.721 may attract a possible long term sell position with an ultimate target set at 107.540
Trade Recommendations:
Look for long positions towards 111.721.

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