05 Juli 2021, USD/JPY
Wave Analysis
During the previous trading day on Friday, the US Dollar moved significantly to the lowerside and is still pretty much bearish. As it is on the 4 hours chart, we expect nothing but a possible momentum to the lowerside. If you are looking at this chart right now, keep looking for long term sell positions expecting the price to continue even lower towards 106.87 and may extend much lower. On the flipside, if the price again break above the same trendline, upper trrendline, then this will be a good place to consider a possible long term buy position with the next ideal target set around 110.90 and may breakout above towards 121.00 or even higher.
Trade Recommendations
Wait for a possible buy signal from around the lower trendline.
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