We're sellers | 12 May 2023
12 May 2023, USD/JPY
USDJPY is currently in a corrective phase, with the market forming the ABC corrective pattern. Presently, the market is in the process of forming the minor wave c. I anticipate a slight rise in this pair up to 134.83, followed by the formation of a double top pattern and a subsequent drop to 132.59. Reaching this zone (132.59) will signify the end of the corrective phase. To prepare for this, you can place sell limits at 134.83, which will activate the orders immediately once the price reaches that zone.
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.
