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We're buyers towards the upper trendline.

We're buyers towards the upper trendline. | 27 December 2021

27 December 2021, USD/JPY

We're buyers towards the upper trendline.

Wave Analysis

The USD Dollar is still rallying within the expanding wedge formation. As it is right now, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (5) to the upperside and may see the price break above the upper trendline. If this is the case, then a rally much higher is expected. On the flipside, a break below the lower trendline may attract a possible sell towards 110.95.

Trade Recommendations:

We're buyers towards the upper trendline.

Bob Stan
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