21 Januari 2021, USD/JPY
Wave Analysis
During the previous trading day, the US Dollar rallied to the lowerside and is still very much bearish both on the daily and on the weekly charts. 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 the last impulsive wave to the lowerside and should break below 102.642. The idea is to keep watching for a pullback towards the upper trendline to pick a low risk sell position.
Trade Recommendations:
Remain short towards 102.642.
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