We're short | 15 May 2023
15 May 2023, USD/JPY
USDJPY is in a corrective phase. The is currently a major zone/Resistance zone (135.73), this very zone is our minor corrective wave b. I expect the market to form a bearish reversal pattern either a double top, head, and shoulder pattern, and then drop up to 135.59. Price reaching this zone (135.59.) will mark the end of the corrective phase. We will wait for the market to form a bearish reversal pattern before placing any trade. Lastly, should the market break above 135.73 impulsively, this setup will be invalidated.
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.
