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We're short | 28 March 2023

28 March 2023, USD/JPY

USDJPY is currently forming a new trend, the market is in an impulsive (V) wave pattern. The price is currently at major wave (IV) 131.67. This zone is a resistance zone, if you can check on the lower time frame, specifically 1HOUR time we can clearly see that the market has formed a double top, this is a bearish pattern and because it has been formed at a major zone the probability of this price dropping has increased. You can place sell orders now with your take profit at 127.18, this is where we expect the major wave (V) to end.

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We're short

Bob Stan
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