Sell USD JPY Now | 25 April 2023
25 April 2023, USD/JPY
USDJPY has completed its formation of the impulsive "V" wave pattern and is now in the process of forming a corrective 3-wave pattern (ABC corrective). The market is currently in a corrective phase, and an ascending channel has formed from minor wave "a" at 133.59 to the end of minor wave "b" at 134.61, indicating a bearish reversal pattern. Given that the price has already broken below the lower trendline of this channel, we may now place a sell order with a reduced entry. Should the price break above 134.35 this setup will be invalidated.
Trade Recommendations:
Sell USD JPY 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.
