We're flat for now | 23 February 2023
23 February 2023, USD/JPY
USDJPY formed a double top pattern at 135.03 which is a bearish pattern, Again, the market has formed an ascending channel from 131.59 to 134.96 which is a bearish pattern. The market has already broken below the lower trendline of this channel and reversed up to 134.92,.The corrective phase ended at 134.84. Now, We expect the price to drop by at least up to 132.72. Should the market break above the resistance zone at 135.11, we will close all the open sell orders and will now be looking for buying opportunities.
Trade Recommendations: We're flat for now
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.
