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We're buyers towards the upper trendline.

We're buyers towards the upper trendline. | 08 October 2021

08 October 2021, USD/JPY

We're buyers towards the upper trendline.

Wave Analysis

During the previous trading day, we saw a surge to the upperside, the US Dollar is still several points below the upper trendline. As it is right now, we are looking forwards to the continuation of the last impulsive wave (v) to the upperside and should breakout above the upper trendline. If this is the case, then further momentum much higher is expected towards 114.90 or even higher. If the price breaks below the lower trendline, then we're sellers towards 107.620.

Trade Recommendations:

We're buyers towards the upper trendline.

Bob Stan
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