Wait and buy a rebound from the lower trendline towards 116.00.

11 6月 2021, USD/JPY

Wait and buy a rebound from the lower trendline towards 116.00.

Wave Analysis

The Us dollar us currently rallying around a significant supportive trendline. This is a very good level and while the price does not clear not clearly break and close below it, this is a good place to consider a possible long term buy position. The anticipated bullish price rally is the continuation of an impulsive wave count and could see price break above 110 towards 116.00 or even higher. A break and close below the same trendline will mean we're continuing to the lowerside with an ideal target set at 108.410.

Trade Recommendations:

Wait and buy a rebound from the lower trendline towards 116.00.

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Graham Osano
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