We're short | 21 Abril 2023
21 Abril 2023, USD/JPY
USDJPY is currently very bearish. The market is currently in a corrective phase (ABC corrective pattern) and as we can see on the chart above the outer major wave, appears to be forming a (V) major wave pattern that originates from major outer IV at 130.74. This indicates that the corrective phase of the outer wave will form the inner impulsive wave (V). Again, the pair has formed an ascending channel from 133.61 to 134.94, which is a bearish reversal pattern. I expect this pair to drop up to 133.06. Price reaching this zone will mark the end of the corrective phase.
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.
