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We're buyers towards the upper trendline.

We're buyers towards the upper trendline. | 30 August 2021

30 August 2021, USD/JPY

We're buyers towards the upper trendline.

Wave Analysis

Few weeks ago, the US Dollar bounced off from the lower trendline, headed straight to the upperside and is still pretty much bullish both on the daily and weekly charts. As long as the price remains above the lower trendline, we expect\ nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (5) to the upper side and should head straight towards 111.800 and may continue much higher.

Trade Recommendations:

We're buyers towards the upper trendline.

Bob Stan
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