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We're short for now

We're short for now | 06 November 2023

06 November 2023, USD/JPY

USDJPY is displaying a noticeable decline, indicating a bearish trend that we anticipate concluding around the support zone of 146.26. Currently, the price appears to be following an ABC corrective pattern, subsequent to the completion of a bullish impulsive phase that terminated near the resistance zone of 151.70. Our expectation is for the price to decrease, potentially reaching the support zone at 146.26, serving as our target for the minor wave 'a.' Consider initiating a short position with an initial profit target at 148.89 and a final target at 146.26.
Trade Recommendations:
We're short for now
Bob Stan
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