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We're short for now

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

Bob Stan
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