26 January 2021, USD/JPY
Wave Analysis
The US Dollar is currently rallying below the upper trendline. While the price remains below this trendline, we expect the rebound from it to have marked an end to the corrective wave (D) that the current bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should breakout below the lower trendline towards 102.930. On the flipside, should the price break and close above 103.815, then this will be a good place to consider a possible long term buy position towards 104.405.
Trade Recommendations:
Sell the Us dollar towards the lower trendline.
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