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We're buyers towards 113

We're buyers towards 113 | 31 August 2021

31 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 but is yet to9o make any clear moves to the upperside, we expect this bounce to be an end to the corrective wave (D) that the current rally to the upperside is the continuation of the last impulsive wave (E) to the upperside and should breakout above the upper trendline and may extend much higher with the next ideal target set around 113.89 and may continue much. This view can only be invalidated in case the price breaks below the lower trendline, if this is the case, then further momentum to the lowerside.
Trade Recommendations:
We're buyers towards 113
Bob Stan
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