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We're short | 06 April 2023

06 April 2023, USD/JPY

USDJPY is still dropping nicely just as we had predicted in our previous analysis (5/6/2023). The market is forming the 5 major impulsive waves pattern. As we can see on the chart above the market formed an ascending channel(A bearish reversal pattern) from 129.63 to 133.65. We expect the market to drop up to the beginning of this ascending channel which is at 129.63. If you are holding any sell trade, place your take profit at 129.63. You can still place a sell order now with your take profit at 129.63 and stop loss at 131.39.

Trade Recommendations:

We're sellers

Bob Stan
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