We're short for now | 12 July 2023
12 July 2023, USD/JPY
USDJPY is experiencing a notable decline, aligning with our earlier analysis from 7/11/2023. The pair remains highly bearish, with the market currently in a corrective phase (ABC corrective pattern) as it forms the minor wave 'c'. The completion of this wave will signal the end of the corrective phase. Our expectation is for a further downward movement, with a target of at least 139.06. It is prudent to exercise patience and wait for the completion of the corrective phase before considering any trade entries.
Trade Recommendations:
We're short for now
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
