Wait | 17 July 2023
17 July 2023, USD/JPY
USDJPY is presently undergoing a corrective phase following the ABC corrective pattern. As observed from the chart, the price is currently in the process of forming the minor corrective wave "b". Our expectation is for a potential upward movement toward the target level of "141.21", which we have identified as our major corrective wave "b" zone. Therefore, it is possible to consider placing a buy order with a take profit set at "141.21" and a tight stop loss at "138.03" to manage risk effectively.
Trade Recommendations:
We're waiting for a bullish correction.
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.
