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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 15 December 2021

15 December 2021, USD/JPY

Wave Analysis

The US Dollar is currently within an expanding wedge formation. As it is now, following the bounce from the lower trendline, we are waiting for a bounce from the level 114.082 to pick a possible long term sell positions towards the lower trendline. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower trendline and may break below it. Otherwise, a rebound from the lower trendline, or a break above 114.082 will attract a possible long term buy position towards the upper trendline.

Trade Recommendations:

We're sellers towards the lower trendline.

Bob Stan
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