17 Mei 2021, USD/JPY
Wave Analysis
During the previous week, the US Dollar rallied to the upperside and is still pretty much bullish. If you are looking at this chart, we are expecting a possible breakout above the immediate trendline to pick a possible long term buy position. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should breakout above 114.018 and may end up breaking above 116 or even higher. If you are looking at this chart right now, keep looking for long term buy positions especially while the price is above the red trendline.
Trade Recommendations:
As long as the price is above the upper trendline keep looking for long term buy positions towards 118.018
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