25 May 2021, USD/JPY
Wave Analysis
We continue to see the extension of the corrective wave (c) to the lowerside. As it is now, we expect further rally to the lowerside and should breakout below 106.790 towards 105.545 or even lower. If the price breaks and closes above the upper trendline, then further momentum to the upperside is expected towards 110.731. If the price breaks and closes above 110.731, then we will be looking for further momentum to the upperside and should breakout even higher towards 112.00.
Trade Recommendations:
Look for long term sell positions with your target at 105.545.
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