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We're sellers | 26 January 2023

26 January 2023, USD/JPY

Wave Analysis

USDJPY has been moving in form of a descending channel from 142.137 to 127.242. The market has already completed forming the major impulsive waves. The market is currently forming a corrective 3 waves pattern. The market has been moving impulsively from minor corrective wave c,131.859, I expect this move to continue up to around 129.079 where there is a minor zone, so at this level, the market can either break below it or reverse to the upside. If you have active sell trades id advise you to place your first take profit at the minor zone which is at 129.079.

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We're sellers

Bob Stan
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