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We're sellers | 24 March 2023

24 March 2023, USD/JPY

We're sellers

USDJPY is still very bearish. The market is currently in a corrective phase (ABC corrective pattern). Currently, the market is at a major zone /support zone at 130.53. From the chart above, we can clearly see that the market is moving in form of a descending channel which is a bullish reversal pattern. So since the market is ta a support zone the market can break below or be rejected and form a bullish pattern like a double bottom. Should the market fail to break the support zone will mark it the end of the minor corrective wave c and also the end of the corrective phase.

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We're sellers

Bob Stan
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