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We are buyers from the lower trendline up to 117.05

We are buyers from the lower trendline up to 117.05 | 17 January 2022

17 January 2022, USD/JPY

We are buyers from the lower trendline up to 117.05

Wave Analysis:

Previously this pair bounced back from the upper trendline directly to the lower side, currently the price is at the lower trendline I am expecting strong bullish momentum to the upper side up to the upper trendline in a move to complete impulsive wave 5 with my ideal target at 117.05 from 114.45.On the flipside if the current candle breaks and closes below the lower trendline we expect to continue downwards 109.90.

Trade Recommendations:

We are buyers from the lower trendline up to 117.05.

Bob Stan
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