15 Juli 2021, USD/JPY
Wave Analysis
According to the 4 hours chart attached, the Us Dollar is currently in an active down trend, while the price is held below the Alligator indicator, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the last impulsive wave (5) to the lowerside and should breakout below the level 109 towards 108.78 towards 105 or even lower. As it is on the daily chart, we are looking at the possibility that the price should extend to the lowerside with the next ideal target set around 107. As it is now, only sell positions looks ideal and can safely be recommended.
Trade Recommendations:
We're sellers towards 107.
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