Buy USDJPY towards 111.483.

04 May 2021, USD/JPY

Buy USDJPY towards 111.483.

Technical Observation

Earlier this week, this instrument rose and is currently above the upper trendline. While the price remains above the upper trendline, I recommend looking for long term buy positions. As it is now, I am looking for long term buy positions my expectation is that the price should continue to the upperside and should breakout above 111.483 towards 114.019 and may extend much higher. On the otherside, should the price break below the same trendline, then we will be expecting a rally much lower towards 104.634.

Trade Recommendations:

Buy USDJPY towards 111.483.

Imelda Maseno
Analyst of «FreshForex» company
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