We're short | 20 July 2023
20 July 2023, USD/JPY
USDJPY is still within its corrective phase, currently situated at the level of minor corrective wave "b" at 140.02. Our analysis anticipates the formation of a bearish reversal pattern, possibly a double top, followed by a subsequent drop. The presence of a bear flag pattern, extending from minor wave "a" at 137.21 to minor wave "b" at 140.02, reinforces the selling bias. Traders are advised to exercise patience and wait for the confirmation of the double top pattern before entering a sell order..
Trade Recommendations:
We're short
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.
