We're looking for a buy above the upper trendline. | 07 August 2021

07 August 2021, USD/JPY

We're looking for a buy above the upper trendline.

Wave Analysis

During the previous trading day, the US Dollar bounced off from the lower trendline headed straight to the lowerside and is still pretty much bullish both on the daily and on the weekly charts. If the price breaks and closes above the upper trendline then we will be expecting further momentum to the upper side is expected with the next ideal target set around the upper most trendline. On the flipside, a break below the lower trendline is expected./

Trade Recommendations:

We're looking for a buy above the upper trendline.

Bob Stan
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