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We're sellers towards 127.36

We're sellers towards 127.36 | 04 April 2023

04 April 2023, USD/JPY

USDJPY is currently very bullish, the market is forming the 5 major impulsive waves pattern. As we can see on the chart above the market formed an ascending channel from 129.63 to 133.65, this is a bearish reversal pattern. The price has already broken below the lower trendline of this ascending channel (Impulsively), this is a confirmation that this pair is/will drop at least up to the beginning of this ascending channel (129.63). I expect the price to drop up to 127.36, impulsive wave (V) is likely to end at this zone.

Trade Recommendations:

We're sellers towars 127.36

Bob Stan
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