12 April 2022, USD/JPY
Wave Analysis:
Previously the US Dollar is currently trading in an expanding wedge formation,recently the price broke above a key resistance zone 124.87-124.69 and proceeded upwards in continuation of the impulsive wave cycle three.The price is right now retracing to the lower side and I expect it to continue upto to lower tredline towards 124.69 in continuation of the corrective wave cycle four.Then rebound to the upper side towards 126.25 in continuation of the impulsive wave cycle five.If you are looking at this pair right now, wait for the price at 124.69 then pick a buy position towards 126.25.
Trade Reccommendations:
Wait.