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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 29 June 2021

29 June 2021, USD/JPY

We're sellers towards the lower trendline.

Wave Analysis
During the previous trading day, the US Dollar continued to the lowerside and is still pretty much bearish. As long as the price remains below the upper trendline, we expect nothing but a possible sell towards the lower trendline. If the price breaks below this trendline, then further momentum to the lowerside is expected. As it is on the daily chart, buy positions looks a bit risky and may not be recommended. However, if the price breaks and closes above the upper trendline, then we will be looking for a possible long term buy order.
Trade Recommendations:
We're sellers towards the lower trendline.

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Bob Stan
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