We're short | 27 Julio 2023
27 Julio 2023, USD/JPY
USDJPY has been bearish for the better part of yesterday, and it's still bearish now. The market is still in a corrective phase, specifically the ABC corrective pattern. Additionally, we can see that the market has formed a rising wedge, which is expanding in nature, making it a bearish pattern. We expect the market to continue dropping lower, at least down to 134.45. We will enter a sell trade immediately when the market breaks below the lower trendline of this rising wedge, likely at (139.64).
Trade Recommendations:
We're short for now
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.
