14 April 2021, USD/JPY
Wave Analysis
The Us Dollar continues to rally above the upper trendline, this is perfectly in line with what we stated during the previous trading day. As it is now, we are looking for possible long-term buy positions expecting the price to break out beyond 114.18 towards 118.00 or even higher. On the flip side, should the price breakout below the same trendline, then we will be looking for a possible long term sell position expecting the price to break below 108.220 towards 100.580 and may extend much lower. As it is now, we are on the sidelines.
Trade Recommendations:
We're waiting for a possible long term buy position towards 118.00.
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