16 февраля 2021, USD/JPY
Wave Analysis
The US Dollar continues to rally above the zone 104.461-104.275 and above the Alligator indicator. If you are on this chart, we are buyers. The idea is to wait for a bearish correction towards the blue alligator line to dive into a low risk buy position towards 106.129-106.022. If the price breaks above this zone, then further momentum to the upper side will be expected. On the other hand, a close below 104.275 will mean we are looking for long term sell position towards 102.510.
Trade Recommendations:
Wait for a low risk buy position towards 106.129.
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