We're buyers | 20 Enero 2023
20 Enero 2023, USD/JPY
Wave Analysis
USDJPY is currently forming the minor corrective 3 waves pattern, the market hit the major wave V at 127.238 which marked the end of the major impulsive wave. At 127.949, which is also our minor corrective wave b the market has formed a double bottom, This indicates a buy signal. I expect the market to buy from where it is now which is 128.359 to around 131.028. Should the market fail to buy and instead breaks below major wave V,127.242, the setup will be invalidated and we will be now looking for selling opportunities.
Trade Recommendation:
We're buyers
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
