Buy Us dollar from the blue line towards 107.948

23 February 2021, USD/JPY

Buy Us dollar from the blue line towards 107.948

Wave Analysis

instead of continuing to the upperside as previously forecasted, the US Dollar continued to the lowerside but is currently around the red Alligator line. As long as the price does not clearly break below the blue line, we are still holding onto a buyers perspective. The idea is to watch for a bounce from the blue line to pick a buy or a bounce from around 104.459-104.302 to pick a low risk buy position. A break and close below 104.302 will attract a possible long term sell position towards 102.590.

Trade Recommendations:

Buy Us dollar from the blue line towards 107.948

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Graham Osano
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