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We're short towards 104.74.

We're short towards 104.74. | 25 March 2021

25 March 2021, USD/JPY

Sell a rebound from the upper trendline towards 104.74.

Wave Analysis

USDJPY is still struggling below the upper trendline. While the price remains below this trendline, we are looking at possible long term sell positions towards 104.74, as we mentioned in our previous forecast, we are still sellers on this charts, our expectations is that the price should pullback upwards towards the same trendline but should not break above it. In case the price breaks and closes above this trendline, then further momentum to the upperside is expected with an ultimate target set around 114.15.

Trade Recommendations:

We're short towards 104.74.

Bob Stan
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