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We are buyers. | 04 April 2022

04 April 2022, USD/JPY

We are buyers.

Wave Analysis:

The US Dollar is currently trading on an expanding wedge formation, the price has been moving towards the upper side in line with the upward trend. Recently, the price bounced off to the lower trendline from the upper trendline in continuation of corrective wave cycle four.I expect a rebound to the upper side towards 126.75.However should the price break below the lower trendline, then 121.15 would be a good place to pick sell positions with our first ideal target at 115.30.

Trade Recommendations:

We are buyers.

Bob Stan
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