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We're short

We're short | 07 June 2023

07 June 2023, USD/JPY

We're short

USDJPY remains in a predominantly bearish state, despite observing some bullish candles throughout the day. The temporary bullish movement can be attributed to the filling of a gap between 139.93 and 139.80, which is more evident when analyzing the 1-hour timeframe. Currently, the market is forming the minor wave "c," with a target set at 137.76. Reaching this zone will signify the completion of the corrective phase. If you do not currently hold a sell trade, you may consider entering one at 139.62. Set your stop loss at 139.98 and your take profit at 137.76.

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We're short

Bob Stan
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