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We're holding onto the previous week's buy position with an ideal target set at 114.036.

We're holding onto the previous week's buy position with an ideal target set at 114.036. | 01 July 2021

01 July 2021, USD/JPY

We're holding onto the previous week's buy position with an ideal target set at 114.036.

Wave Analysis
The USDJPY continues to rally to the lowerside but is Bullish in Overall. While the price remains above the Alligator indicator lines, we expect a continuation of the current impulsive wave count and should push the price much higher with the next ideal target set 114.36. A breakout above this level will mean we are continuing much higher. On the flipside, if the price breaks below the Alligator indicator lines, we expect nothing but a possible momentum to the lowerside. This will be a correction of the current impulsive wave count but should not go beyond 107.
Trade Recommendations:
We're holding onto the previous week's buy position with an ideal target set at 114.036.

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Bob Stan
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