We're short for now | 17 October 2023
17 October 2023, USD/JPY
USDJPY is currently bearish in the short term. We expect the price to drop CORRECTIVELY to the support zone at '147.90'. This pair is still in a bullish impulsive phase known as the V-wave pattern. Currently, the price is forming the corrective major outer wave "IV," with our target set at 147.90. We expect the price to drop to '147.90' and then reverse to the upside from this zone. You can place a short position now with your profit target at 148.35-147.90. Ensure you use proper risk management.
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.
