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We're buyers towards the upper trendline.

We're buyers towards the upper trendline. | 31 December 2021

31 December 2021, USD/JPY

We're buyers towards the upper trendline.

Wave Analysis

As we indicated earlier this week, we expect the US Dollar to continue to the upperside and may see the price break beyond 116.7 towards 118.0 or even higher. On this chart, buy positions looks ideal and can safely be recommended, otherwise, if the price rebound from the upper trendline, then we'll be looking for a possible long term sell sell position towards the lower trendline. Ultimately, we are looking for a possible rally towards 118.90.

Trade Recommendations:

We're buyers towards the upper trendline.

Bob Stan
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