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We're sellers | 09 January 2023

09 January 2023, USD/JPY

We're sellers

Wave Analysis

USDJPY has completed forming the impulsive V wave pattern and it is currently correcting to the downside, the market is at a that is 132.022, I expect a slightly impulsive move to the upside that is to form the minor corrective wave b followed by an impulsive move to the downside, this will complete the 3 waves corrective pattern, you can place a sell order at the break of corrective wave a, 131.921, placing your take profit at 130.729 and stop loss at 132.119, if the price fails to break below the minor corrective wave a and instead breaks above the major impulsive wave V this set up will be invalidated.

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We're sellers

Bob Stan
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