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we're short for now | 11 July 2023

11 July 2023, USD/JPY

USDJPY is displaying a strong bearish trend at present, indicating a continuation of the corrective phase. The market is currently in the process of forming the minor wave "c" with a target set at 139.61. It is recommended to initiate a sell order now, with a take profit at 139.61 and a stop loss at 141.63. It is crucial to implement appropriate risk management measures. Please note that if the price were to reverse its direction and break above 141.63 with a strong impulsive move, this setup would no longer be valid.

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we're longfor now

Bob Stan
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