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We're sellers towards the lower trendline.

We're sellers towards the lower trendline. | 16 December 2021

16 December 2021, USD/JPY

Wave Analysis

After a rally to te upperside, the US Dollar is currently bouncing off from the resistance zone 114.022-113.935. As long as the price remains below this zone, we are looking for a possible long term sell position with an ultimite target set along the lower trendline. The anticipated bearish price rally is the continuation of the last impulsive wave (c) and may break below 111.620 and may extend much lower with the next ideal target set at 109.895.

Trade Recommendations:

We're sellers towards the lower trendline.

Bob Stan
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