28 January 2021, USD/JPY
Wave Analysis
Just as previously expected, after breaking above the upper trendline, the impulsive wave (3) continued sharply to the upperside and is still pretty much bullish. While we continue to see sustenance above the zone 104.085-104.058, we expect nothing but a possible momentum to the upperside. At this point, we are looking for a breakout above the zone 104.397 to pick a possible long term buy position expecting price to rally towards 110.00 and could breakout much higher.
Trade Recommendations:
Wait and buy a breakout above 104.397.
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