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We're looking for a possible long term sell opportunity.

We're looking for a possible long term sell opportunity. | 08 June 2021

08 June 2021, USD/JPY

Wait and buy a break above the upper trendline towards 111.840.

Wave Analysis

Yesterday, the US Dollar rallied to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. While the price remains below the previous day's highest high, we are looking for a possible long term sell positions.
Our expectations is that the price should continue to the lowerside with an ideal target set around 108.525. If you are looking at this right now, we recommend looking for long term sell positions expecting a break beyond the level mentioned with the next ideal target set around 106.645 and may extend much lower with the next ideal target at 105. On the flipside, only a break above the previous week's highest high will trigger a possible long term buy position

Trade Recommendations:

We're looking for a possible long term sell opportunity.

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Bob Stan
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