12 April 2021, USD/JPY
Wave Analysis
The Us Dollar is showing signs of sustaining the breakout above the upper trendline. While the price remains above the upper trendline, we are looking for long term buy positions expecting price to break above 114.15 towards 118.21 and could breakout much higher. On the flipside, should the price breakout below the same trendline, then further momentum to the lowerside is expected with an ideal target set at 106.86 and could breakout much lower with an ideal target set at 102.65 or even lower towards 98.50.
Trade Recommendations:
Wait for a possible long term buy position towards 114.15.
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