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We're sellers for now

We're sellers for now | 19 July 2023

19 July 2023, USD/JPY

We're sellers for now

USDJPY is currently in a corrective phase, with the market currently at the level of minor corrective wave "b" at 139.15. The formation of a double top at this zone serves as a bearish reversal pattern, indicating a potential downward movement. Furthermore, the presence of a bear flag pattern, extending from minor wave "a" at 137.21 to minor wave "b" at 139.15, strengthens the bearish sentiment. Traders have the option to enter a sell order now or wait for a break below 137.99 before considering a sell trade entry.

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We're sellers for now

Bob Stan
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