01 February 2021, USD/JPY
Wave Analysis
After breaking above the upper trendline, the US Dollar continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts. Following the end of the corrective wave (2) around 104.610, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (3) to the upperside and should break above 105.070 towards 106.45 or even higher. If you are looking at this chart right now, keep looking for long term buy positions.
Trade Recommendations:
We're buyers towards 105.07.
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