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We're short | 14 April 2023

14 April 2023, USD/JPY

USDJPY is currently very bearish, having formed a complete major (V) pattern. Looking at the chart above, it can be observed that from major wave (V) at 134.02, the market is now forming another inner minor V-wave pattern, which is considered a corrective phase. The price is currently moving in an impulse and correction pattern. It is expected that this pair will form a double top at 132.79, after which it will drop at least down to 131.48. This zone will be marked as the beginning of the minor corrective wave A. It is recommended to place sell orders now, with a take profit at 131.48 and a stop loss at 132.84.

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We're short

Bob Stan
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