13 Juli 2021, USD/JPY
Wave Analysis
According to the weekly charts, we are upwards, however, the price is yet to give us a clear signal for buying. As it is now, we are looking for further momentum to the lowerside to pick a low risk buy position. The idea is to watch for a rally towards a key level then wait for a pullback to pick a possible low risk buy position expecting the price to extend much higher with the next ideal target set around 111.689, if the price breaks above this level, then we will be looking for further rally to the upperside,
on the flipside, should the price break below the previous week's lowest low, then we will be looking for a possible long term selll position expecting further rally towards 107.010.
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