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We're short for now

We're short for now | 08 November 2023

08 November 2023, USD/JPY

USDJPY is still very bearish. The price hit the support zone of 149.33 and reversed to the resistance of 150.58 (a pullback). We can observe that the price is currently dropping from the resistance zone of 150.58. It's evident that this pair is still in a bearish corrective phase rather than the ABC corrective pattern. Currently, the price is forming the minor wave 'a', and we anticipate the price to drop down to the support zone of 146.64. You can consider initiating a short position with your profit target set between 147.51 and 146.64.

Trade Recommendations:

We're short for now

Bob Stan
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