22 Juni 2021, USD/JPY
Wave Analysis
After bouncing off from the lower trendline, the Us dollar continued to the upperside and is still pretty much bullish. As it is now, we are still buyers, we are waiting for price to pull back towards the lower trendline to pick a possible long term buy position. The anticipated bullish price rally is the continuation of the last impulsive wave (v) and should continue much higher towards 114.00 and may extend much higher. As it is now, only buy positions looks ideal. This buyer perspective is supported by the fact that the previous day's candle is a perfect bullish pin bar candle. On this chart, only buy positions looks ideal and can safely be recommended.
Trade Recommendations:
We're looking for a possible long term buy position
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