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We;re short for now

We;re short for now | 30 May 2023

30 May 2023, USD/JPY

We;re short for now

USDJPY is indeed following the anticipated movement outlined in our previous analysis (5/30/2023). The market is still in the process of completing the corrective phase, with the formation of the minor wave "a". Despite the current price decline, we expect a slight upward movement towards 140.74, where a double top formation is expected. This double-top formation would increase the likelihood of a subsequent drop in price. To take advantage of this potential setup, you can consider placing a sell limit order at 140.74. This will allow you to enter a short position if the price reaches the specified level after forming the double-top pattern.

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We're short for now

Bob Stan
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