We're sellers | 10 May 2023
10 May 2023, USD/JPY
USDJPY has been consolidating since yesterday (9/5/2023), and the market is still in a corrective phase. Currently, the price is at minor corrective wave b (135.34). We expect the market to form a bearish reversal pattern, most probably a double top pattern at 135.34, which will lead to a drop to at least 132.59. You can either place a risk entry now or wait for the market to form this bearish reversal pattern before placing a sell order. The latter option will be less risky, as we will be entering the trade after a sell confirmation
Trade Recommendations:
We're sellers
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.
