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We're watching for a break above 114.5 to pick a possible long term buy position.

We're watching for a break above 114.5 to pick a possible long term buy position. | 04 November 2021

04 November 2021, USD/JPY

We're watching for a break above 114.5 to pick a possible long term buy position.

Wave Analysis:

Yesterday, the US Dollar closed as an indecision candle. We expect a possible break above the previous day's highest high to push price much higher with the next ideal target set around 114.95 and could continue even higher. If you are looking at this chart right now, look for a possible break above 114.55, to push price to the upperside with an ideal target set around 115.78 and may extend much higher. On the flipside, a break below the previous day's lowest low, will attract a possible long term sell position towards 112.95.
Trade Recommendations:
We're watching for a break above 114.5 to pick a possible long term buy position.
Bob Stan
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