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We're sellers | 10 April 2023

10 April 2023, USD/JPY

We're sellers

USDJPY has been trending downwards since last week, following the impulsive "V" wave pattern. The chart shows that the market has been forming an impulse and correction pattern since the major impulsive wave "IV". Currently, the market is in a correction phase (bearish continuation pattern) and is at a major zone/resistance zone. Based on this, I expect the price to drop from this zone, potentially down to 127.36. You can place sell orders now with the take profit at 127.36. Should the market break above 132.29, this setup will be invalidated.

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We're sellers

Bob Stan
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