Expect a possible sell position from the upper trendline towards 104.959. | 17 March 2021
17 March 2021, USD/JPY
Wave Analysis
The Us dollar continues to rally below the upper trendline. While we continue to see this struggling, we are waiting for a clear rebound from the upper trendline to pick a possible long term sell position towards 104.959-104.588. A breakout below this zone will mean we are continuing to the lowerside with the next ideal target set at 100.955. On this chart, a clear breakout above the upper trendline will mean we are continuing to the upper side with the next ideal target at 114.103. A break above this level will mean we are continuing upwards towards 118.00.
Trade Recommendations:
Expect a possible sell position from the upper trendline towards 104.959.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
