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Wait and buy a break above the upper trendline towards 111.840.

Wait and buy a break above the upper trendline towards 111.840. | 04 June 2021

04 June 2021, USD/JPY

Wait and buy a break above the upper trendline towards 111.840.

Wave Analysis

Yesterday, the US Dollar continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts. If the price rebound from the upper trendline, we will be looking for a possible long term sell positions. As it is now, we expect the impulsive wave (c) to the upperside and is still pretty much bullish both on the daily and on the weekly charts. If you are on this chart, keep looking for long term buy position with the first target set at 111.840 and the next target at 118.00.

Trade Recommendations:

Wait and buy a break above the upper trendline towards 111.840.

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Bob Stan
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