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Buy a breakout above 104.420 towards 104.745.

Buy a breakout above 104.420 towards 104.745. | 14 January 2021

14 January 2021, USD/JPY

Buy a breakout above 104.420 towards 104.745.

Wave Analysis

During the previous trading day, nothing much happened on this pair, however, earlier today, the us dollar continues to rally to the upperside but is still several pips below our target along the upper trendline. As it is now, keep looking for more buy positions expecting price to break and close above 104.420 towards 104.745. At this point, sell positions looks a bit risky and may not be recommended, however, in case of a break below the previous day's lowest low, then further momentum much lower is expected.

Trade Recommendations:

Buy a breakout above 104.420 towards 104.745.

Bob Stan
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