We're sellers towards the lower trendline | 07 July 2021
07 July 2021, USD/JPY
Wave Analysis
Yesterday, the price surged significant to the lowerside perfectly as previously forecasted and is still pretty much bearish. While the price remains below the upper trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of an impulsive wave count and could see the price extend beyond 109 towards 108. If you are looking at this chart as at now, we recommend looking for long term sell position towards the lower trendline. On the flipside, in case the price breaks above the upper trendline, then further momentum to the upperside is expected with the next ideal target set at 112.00.
Trade Recommendations:
We're sellers towards the lower trendline
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