Sell a rebound from the upper trendline towards 104.00. | 01 Marzo 2021
01 Marzo 2021, USD/JPY
Wave Analysis
According to the 6 hours chart attached, the US Dollar is currently bouncing off of a significant resistance trendline. If the price successfully rebounds from this trendline, then this will be a good place to consider a possible long-term sell position. The anticipated bearish price rally will be the continuation of a corrective wave count and could see a price break below 104.00 or even lower. On the flip side, should the price break above the upper trendline, then further momentum to the upper side is expected.
Trade Recommendations:
Sell a rebound from the upper trendline towards 104.00.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
