Wait | 29 March 2022
29 March 2022, USD/JPY
Wave Analysis
The US Dollar is currently within a converging wedge formation. As long as the price remains within this shape, I wam waiting for a rebound from the upper trendline to pick a sell or a rebound from the lower trendline to pick a buy. If the price breaks above any of these levels, we will be looking for a trade in that direction. A break above the upper trendline will offer as an ideal place to consider a possible long term buy position.
Trade Recommendations:
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
