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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 05 January 2022

05 January 2022, USD/JPY

Wait and buy a break above 116.43 towards 118.90.

Wave Analysis

Yesterday, the US Dollar rallied perfectly to the upperside as previously forecasted and is currently around 116.026. We are waiting for a clear sign that the US Dollar is not able to break above the upper trendline to pick a possible long term sell position towards the lower trendline. If the price breaks above the upper trendline, then further momentum to the upperside is expected with an ultimate target set at 118.90.

Trade Recommendations:

We're sellers towards the lower trendline.

Bob Stan
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