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As long as the price remains above the upper trendline we are looking for long term buy positions towards 114.101.

As long as the price remains above the upper trendline we are looking for long term buy positions towards 114.101. | 02 April 2021

02 April 2021, USD/JPY

As long as the price remains above the upper trendline we are looking for long term buy positions towards 114.101.

Wave Analysis

The US Dollar continues to remains above the upper trend line perfectly in line with Monday's forecast. As it is now, we are expecting further momentum to the upper side and should breakout above 114.101. On its way to the upper side, the key levels to look for include 111.310, 112.140 and 114.101. A breakout above this level will push the price much higher towards 115.460. A break and close below the same trend line will push the price to the lower side with an ideal target around 104.959.

Trade Recommendations:

As long as the price remains above the upper trend line we are looking for long term buy positions towards 114.101.

Bob Stan
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