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We're sellers | 15 November 2023

15 November 2023, USD/JPY

We're sellers

USDJPY has completed forming the impulsive V-wave pattern, as evident from the chart above. The price is currently in a bearish corrective phase, moving impulsively to the downside. The double top at 151.71 confirms a trend reversal, indicating that the price is likely to drop. We anticipate the price to decline, reaching at least the support zone at 146.49, which serves as our target for minor wave 'a.' You can consider placing a short position, with your profit target set at 146.49. Ensure you use proper risk management.

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We're sellers

Bob Stan
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