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We're buyers towards the upper trendline.

We're buyers towards the upper trendline. | 23 December 2021

23 December 2021, USD/JPY

Expect a possible long term buy position towards the upper trendline.

Wave Analysis

Previously, we were expecting a correction towards the lower trendline. As long as the price remains above the lower trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally should be an extension of the last impulsivve wave (5) to the upperside and should break above the upper trendline towards 118.90 towarrds 120.90 or even higher. Only a break below the lower trendline will push the price downwards.
Trade Recommendations:
We're buyers towards the upper trendline.
Bob Stan
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