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We're short | 28 June 2023

28 June 2023, USD/JPY

USDJPY has completed its impulsive phase and is currently in a corrective phase, following the ABC corrective pattern. The expectation is for the market to form a bearish reversal pattern, likely a double-top pattern, around the level of 144.07. Subsequently, the price is anticipated to drop, targeting at least 143.16, which is marked as the completion of the minor wave "a". It's important to note that if the price fails to form the expected bearish reversal pattern and instead breaks above 144.08 in a strong and impulsive manner, this setup would be invalidated.

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We're short

Bob Stan
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