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We're waiting for a sell from 138.229.

We're waiting for a sell from 138.229. | 12 December 2022

12 December 2022, USD/JPY

We're waiting for a sell from 138.229. Wave Analysis:

The US Dollar continues to rally within an expanding wedge formation and is not showing signs of breaking above or below it. As it is right now, I am waiting for a rebound from 138.229 to pick a possible long term sell position with an ideal target set around 134.89 and may breakout much lower. On this chart, I am looking at nothing but a possible long term sell position, otherwise, if the price breaks and close above 138.229, then we may consider a possible long term buy order with the next ideal target set around 141.640 and will likely continue to the next level.
Trade Recommendations:
We're waiting for a sell from 138.229.
Bob Stan
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