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Buy a break above the upper trendline towards 112.236.

Buy a break above the upper trendline towards 112.236. | 27 May 2021

27 May 2021, USD/JPY

Buy a break above the upper trendline towards 112.236.

Wave Analysis

The US Dollar is currently printing a bullish flag on the daily chart. As it is now, we are expecting a possible breakout above the upper trendline to pick a possible long term buy position with an ultimate target set around 112.238. If the price breaks above the upper trendline, then further momentum to the upperside is expected with an ultimate target set at 115.00. This is the continuation of the last impulsive wave (v) to the upperside. My recommendations is to wait for a break above the upper trendline, then we are looking for low risk buy positions.

Trade Recommendations:

Buy a break above the upper trendline towards 112.236.

Bob Stan
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