We're sellers for now | 19 July 2023
19 July 2023, USD/JPY
USDJPY is currently in a corrective phase, with the market currently at the level of minor corrective wave "b" at 139.15. The formation of a double top at this zone serves as a bearish reversal pattern, indicating a potential downward movement. Furthermore, the presence of a bear flag pattern, extending from minor wave "a" at 137.21 to minor wave "b" at 139.15, strengthens the bearish sentiment. Traders have the option to enter a sell order now or wait for a break below 137.99 before considering a sell trade entry.
Trade Recommendations:
We're sellers 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.
