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We're buyers

We're buyers | 10 February 2023

10 February 2023, USD/JPY

We're buyers

This pair moved in the form of a descending channel from major wave (I),138.43, up to (130.46). The market has already broken out of the upper trendline of this channel impulsively at 130.36. Again at the same level (130.36), there is a major zone/resistance zone. The price has retraced in the form of a wedge bullish pattern. I expect this pair to buy from 130.36 up to around 135.14, we will mark this point (130.36) as our minor corrective wave c. You can place a buy order now or you can as well wait for the market to break above the upper trendline of this wedge pattern.

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We're buyers

Bob Stan
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