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We're buyers towards the upper trendline.

We're buyers towards the upper trendline. | 11 October 2021

11 October 2021, USD/JPY

We're buyers towards the upper trendline.

Wave Analysis

Last week, the US Dollar gained value significantly and is still pretty much bullish both on the daily and on the weekly charts. As it is right now, on this chart, we expecting the continuation of the last impulsive wave (v) to the upperside and may breakout above the upper trendline towards 112.89 or even higher. If the price rebounds from the upper trendline, then this will be a good place to consider a possible long term sell position towards the lower trendline.

Trade Recommendations:

We're buyers towards the upper trendline.

Bob Stan
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