We're buy above 132.51 | 07 February 2023
07 February 2023, USD/JPY
USDJPY has been moving in form of a descending channel from (145.09) to (129.46). The market has broken below the upper trendline of this channel impulsively at (129.92). The market is currently moving in form of a corrective 3wave pattern. I expect this pair to buy up to around,(137.37), we will mark this level as our minor corrective wave c. At (132.91) there is a major resistance zone, should the price fail to break above this level, we will close all open buy orders. If you have any open buy orders I would advise you to hold and place your take profit at (130.00).
Trade Recommendations:
We're buy above 132.51
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.
