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We're sellers | 13 January 2023

13 January 2023, USD/JPY

We're sellers

Wave Analyisis

USDJPY is on a strong downtrend, the market has completed forming the impulsive V waves pattern and is currently correcting in the III wave pattern, the price is at minor corrective wave b,129.128, as of now. I expect the market to push to the upside to complete the minor corrective waves pattern, which probably will end at,129.594, which is a minor corrective wave c. From this point, I expect an impulsive move to the downside up to 123.442 which is at major wave V in the 4H timeframe. This setup will only be invalidated if the market breaks above major wave III,129.811.

Trade Recommendation

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Bob Stan
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