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Wait for a buy from around 103.893 towards 104.574.

Wait for a buy from around 103.893 towards 104.574. | 11 January 2021

11 January 2021, USD/JPY

Wait for a buy from around 103.893 towards 104.574.

Wave Analysis

The US Dollar is currently in an active up trend. While the price remains above the level 103.893 and also above the red trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave cycle and could see price break and close above 104.574. If you are looking at this chart now, keep looking for more momentum to the upperside expecting price to ultimate break and close above 104.574. A pullback towards 103.893 will give us a good opportunity to pick a buy position.

Trade Recommendations:

Wait for a buy from around 103.893 towards 104.574.

Bob Stan
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