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We're short for now

We're short for now | 17 October 2023

17 October 2023, USD/JPY

USDJPY is currently bearish in the short term. We expect the price to drop CORRECTIVELY to the support zone at '147.90'. This pair is still in a bullish impulsive phase known as the V-wave pattern. Currently, the price is forming the corrective major outer wave "IV," with our target set at 147.90. We expect the price to drop to '147.90' and then reverse to the upside from this zone. You can place a short position now with your profit target at 148.35-147.90. Ensure you use proper risk management.

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We're sellers for now

Bob Stan
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