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We're buyers | 01 March 2023

01 March 2023, USD/JPY

We're buyers

USDJPY is on an uptrend, again the market is in a corrective phase,(Corrective ABC pattern) yesterday the market formed a bullish pattern, and because of this we expect the price to break above the major zone at 136.71 and then buy at least up to 140.83 but this didn't happen as the price was rejected, currently, the market is dropping (short term). I expect this pair to drop up to around 134.52. At this zone,(134.52) I expect the price to form a double bottom and then buy up to around 140.83. Should the price break the major zone at 134.52 the setup will be invalidated.

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We're buyers

Bob Stan
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