We;re short for now | 30 May 2023

30 May 2023, USD/JPY

We;re short for now

USDJPY is indeed following the anticipated movement outlined in our previous analysis (5/30/2023). The market is still in the process of completing the corrective phase, with the formation of the minor wave "a". Despite the current price decline, we expect a slight upward movement towards 140.74, where a double top formation is expected. This double-top formation would increase the likelihood of a subsequent drop in price. To take advantage of this potential setup, you can consider placing a sell limit order at 140.74. This will allow you to enter a short position if the price reaches the specified level after forming the double-top pattern.

Trade Recommendations:

We're short for now

Bob Stan
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .