Wait for a possible sell position from around 108.790. | 03 May 2021
03 May 2021, USD/JPY
Wave Analysis
We continue to see struggling below the upper trendline. This is a possible sign that buyers are loosing steam. As it is now, we want to see a clear rebound sign from the same trendline to pick a possible long term sell position towards 104.356 and may breakout to the lowerside towards 101.440 or even lower. If the price should break above the upper trendline, then we will be looking for long term buy positions towards 111.700 and may extend much higher with our next target set at 118.00.
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Trade Recommendations:
Wait for a possible sell position from around 108.790.
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.
