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We're short | 15 May 2023

15 May 2023, USD/JPY

USDJPY is in a corrective phase. The is currently a major zone/Resistance zone (135.73), this very zone is our minor corrective wave b. I expect the market to form a bearish reversal pattern either a double top, head, and shoulder pattern, and then drop up to 135.59. Price reaching this zone (135.59.) will mark the end of the corrective phase. We will wait for the market to form a bearish reversal pattern before placing any trade. Lastly, should the market break above 135.73 impulsively, this setup will be invalidated.

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We're short

Bob Stan
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