We're short temporarily | 06 Octubre 2023
06 Octubre 2023, USD/JPY
USDJPY is currently declining towards the support zone at 147.70. This pair is still in the impulsive phase characterized by the V-wave pattern. Currently, the price is forming the corrective major outer wave "IV," with our target set at 147.70. We expect the price to drop to 147.70 and then reverse to the upside from this zone. It's important to note that taking a short position is very risky as the price approaches a support zone. For long positions, we will wait for the price to reach the support zone at 147.70 before considering entry.
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.
