We're bullish towards the upper trendline. | 07 Oktober 2021
07 Oktober 2021, USD/JPY
Wave Analysis
The US Dollar is currently rallying within a rising channel formation. Following the bounce from the lower trendline, the US Dollar rallied to the upperside but is yet to continue any higher, the anticipated bullish price rally is the continuation of the last impulsive wave (v) to the upperside but should not go beyond the upper trendline, if the price rebound from the upper trendline, then this will be a good place to consider a possible long term sell position.
Trade Recommendations:
We're bullish towards the upper trendline.
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.
