We're sellers for now | 07 November 2023
07 November 2023, USD/JPY
On the USDJPY pair, it's evident from the chart that the price experienced a temporary rejection at the support zone of 149.32 for a significant portion of yesterday (11/6/2023). Presently, the price is undergoing a pullback to the upside, and we anticipate this upward movement to cease around 150.22. It's important to note that this does not invalidate the bearish trend. The pair remains in a bearish corrective phase, currently shaping the minor wave 'a.' You might consider initiating a short position at 150.22, targeting a profit at the support zone of 147.51-146.49.
Trade Recommendations:
We're sellers 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.
