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Buy a rebound from around 107.50 towards 114.246.

Buy a rebound from around 107.50 towards 114.246. | 18 May 2021

18 May 2021, USD/JPY

As long as the price is above the upper trendline keep looking for long term buy positions towards 118.018

Wave Analysis
Yesterday, we saw a slight pullback to the lowerside but the USD dollar is still within our buyers territory. As long as we continue to see struggling above this trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bullish price rally is the continuation of the last impulsive wave (c) to the upperside and should break above 114.018 towards 118.50 or even higher. And in case the price breaks below the same trendline, then further momentum to the lowerside is expected with the next ideal target set at 104.248.
Trade Recommendations:
Buy a rebound from around 107.50 towards 114.246.

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