We're sellers | 27 January 2023
27 January 2023, USD/JPY
Wave Analsis:
USDJPY has been moving in form of a descending channel from 142.137 to where the market is now,130.237. The market is currently forming the corrective 3 minor waves. There is a support level at 129.079 which the market respected again there is a resistance level around 130.721. I expect the market to move up to the resistance level,, of 130.721, then sell up to around 129.079. Should the price break above the resistance level,130.721, this setup will be invalidated and we will now be looking for buying opportunities.
Trade Recommenations:
We're short
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
