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Wait | 17 July 2023

17 July 2023, USD/JPY

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USDJPY is presently undergoing a corrective phase following the ABC corrective pattern. As observed from the chart, the price is currently in the process of forming the minor corrective wave "b". Our expectation is for a potential upward movement toward the target level of "141.21", which we have identified as our major corrective wave "b" zone. Therefore, it is possible to consider placing a buy order with a take profit set at "141.21" and a tight stop loss at "138.03" to manage risk effectively.

Trade Recommendations:

We're waiting for a bullish correction.

Bob Stan
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