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We're waiting for a buy from the lower trendline towards the upper trendline.

We're waiting for a buy from the lower trendline towards the upper trendline. | 01 December 2021

01 December 2021, USD/JPY

We're waiting for a buy from the lower trendline towards the upper trendline.

Wave Analysis:

The US Dollar continues to rally to the lowerside and is still pretty much bearish both on the daily and on the weekly charts, As it is right now, we expect a possible extension of the corrective wave (4) to the lowerside but should not break below the lower trendline. As it is right now, if the price can rebound from the lower trendline, then this will be the ideal place to consider a possible long term buy position with an ideal target along the upper trendline.

Trade Recommendations:

We're waiting for a buy from the lower trendline towards the upper trendline.

Bob Stan
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