We're sellers temporarily towards 112.20 | 21 Oktober 2021
21 Oktober 2021, USD/JPY
Wave Analysis:
After an impulsive wave count which started few days ago, the US Dollar is currently in a correction mode. We expect the current bearish price rally to be the continuation of a corrective we count but should not go beyond 112.02. If you are look at this chart right now, we recommend you step out of any buy positions expecting a correction towards 112.03 where we expect a rebound from. A break above the previous day's highest high may mean we are now continue much higher towards 118.00 and may extend even higher.
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