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We're sellers towards the lower trendline

We're sellers towards the lower trendline | 07 January 2022

07 January 2022, USD/JPY

We're sellers towards the lower trendline

Wave Analysis

After a massive move to the upperside, the US Dollar is currently around the upper trendline. While the price does not clearly break and close above this level, we are waiting for a clear rebound from the upper trendline to pick a possible long term sell position towards the lower trendline and may likely break and close below it. On this chart, I expect nothing but a possible momentum to the loweeside. As it is right now, keep looking for low risk sell positions towards the lower trendline.

Trade Recommendations:
We're sellers towards the lower trendline
Bob Stan
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