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Buy a break above the upper trendline towards 115.250.

Buy a break above the upper trendline towards 115.250. | 16 November 2021

16 November 2021, USD/JPY

Buy a break above the upper trendline towards 115.250.

Wave Analysis:

During the previous trading day, the US Dollar rallied to the upperside but is still within the expanding wedge formation. If the price can break and close above the upper trendline forming top of this wedge, then this will be an ideal place to consider a possible long term buy position. The anticipated bullish price rally is the continuation of the last impulsive wave v to the upperside and should break beyond 114.795 and may extend much higher.
Trade Recommendations:
Buy a break above the upper trendline towards 115.250.
Bob Stan
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