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Expect a possible sell from the upper trendline.

Expect a possible sell from the upper trendline. | 16 Maret 2021

16 Maret 2021, USD/JPY

Expect a possible sell from the upper trendline.

Wave Analysis

During the previous trading day, we continued to see sustenance below the upper trendline. 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 price breakout ebloow 104.953. If you are looking at this chart now, keep looking for long term sell positions. Howvere, should the price btreak and close above the upper trendline then this will be a good place to consider a possible long term buy position towards 114.1093.
Trade Recommendations:
Expect a possible sell from the upper trendline.
Bob Stan
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