12 Juli 2021, USD/JPY
Wave Analysis
The US Dollar continues to rally to the lowerside but is still above the upper trendline. As long as the price remains above the immediate trendline, we expect nothing but a possible momentum to the uppperside, the anticipated bearish price rally is the continuation of an impulsive wave count and should break above 113.783, if the price breaks above this level, then further momentum to the upperside is expected, and in case the price breaks below the immediate trendline, then further momentum to the lowerside is expected towards 101.383.
Trade Recommendations:
Wait for a rebuy from the lower trendline towards 113.783.
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