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We're short | 22 March 2023

22 March 2023, USD/JPY

USDJPY reversed to the major zone/resistance zone at 132.62. The market is still in a corrective phase (ABC corrective pattern). The market is forming lower highs and lower lows. The rice is also moving in form of a descending channel which is a bullish reversal pattern. Meaning the trend is likely to change to a bullish trend not now but soon. For now, I expect the market to drop at least up to 129.92. You can place sell orders now with your take profits at 129.92. The stop loss should be above the resistance zone which is 133.24.

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We're short

Bob Stan
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