We're short | 21 Febrero 2023
21 Febrero 2023, USD/JPY
USDJPY has completed forming a full motive wave( 5 waves structure) and is currently in a corrective phase, the price has been rejected at minor corrective wave c (134.96) because of the major zone at this level. Again, the market has formed an ascending channel from 131.59 to 134.96 which is a bearish pattern. The market has already broken below the lower trendline of this channel, I expect this pair to form a head and shoulder pattern and then drop up to 130.90. The price is likely to push slightly higher up to 134.5 before dropping.
Trade Recommendations:
We're short
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.
