We're sellers towards 127.242 | 23 Enero 2023
23 Enero 2023, USD/JPY
Wave Analysis
USDJPY is still on a downtrend. The market has already formed the major impulsive 5 waves pattern. The market is currently forming the corrective 3 waves pattern. The market has formed a double top at 130.604. Double tops normally signal the market reversal to the downside. Again the market is currently at the minor corrective wave c which is the last impulsive wave of the 3 corrective waves. I expect the price to fall from 129.439 to 127.242. Should the price break above wave b,131.522, the setup will be invalidated.
Trade Recommendations:
We're sellers towards 127.242
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.
