25 January 2021, USD/JPY
Wave Analysis
Earlier today, the Us dollar bounced off from the upper trendline and is currently heading to the lower side, while the price is not able to break and close above the upper trendline, we expect the recent rebound from the upper trendline to be the continuation of the last impulsive wave (E) to the lowerside and should breakout below 103.355 towards 103.115 or even lower. If you are looking at this chart, remain short with the current bearish price rally towards 102.00 and could breakout much lower.
Trade Recommendations:
Remain short towards 103.275.
Trade Recommendations:
Look for low risk buy positions towards 1.22245.
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