We're short | 20 February 2023
20 February 2023, USD/JPY
USDJPY is currently in a corrective phase, the price has been rejected at minor corrective wave c (134.96) because of the major zone at this level. Again, the market has formed an ascending channel from 131.59 to 134.96which is a bearish pattern. I expect this pair to drop from 134.02 to 131.71. At 131.71 there is a major zone/support level, the price is likely to be rejected at this zone. You can place a sell order now with your target at 131.71. You can place your stop loss at 135.08. Ensure you use proper risk management.
Trade Recommendations:
We're short
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.
