05 Februari 2021, USD/JPY
Wave Analysis
The US Dollar is currently in an active up trend. As long as the price remains above the alligator indicator attached, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should breakout above 105.645 towards 106.00 or even higher. If the price pulls back to the lowerside, then we'll be waiting for a buy from around 38.2% fib level or 50.0% fib level, A break below the latter will push the price much lower towards 61.8% fib level.
Trade Recommendations:
Wait for a rebuy from around 104.927.
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