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Remain long towards 116.00.

Remain long towards 116.00. | 16 June 2021

16 June 2021, USD/JPY

We're buyers towards 116.00.

Wave Analysis
During the previous trading day, nothing much happened on this pair, the US Dollar closed a few pips above its opening. As it is on the daily chart, we are looking for the possibility that the price will continue to the upperside towards trendline. If you are on this chart, keep looking for long term buy positions. On this chart, selling or holding onto a sell position is a bit risky and may not be recommended unless the price breaks below the lower trendline or bounces off from the upper trendline. However, right now, only buy positions is recommended. towards the upper trendline
Trade Recommendation:
Remain long towards 116.00.

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Bob Stan
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