Elliott waves analysis – We’re sellers.


USDJPY is currently very bearish, and the market is in a corrective phase (ABC corrective pattern). The market is forming lower highs and lower lows, meaning the market is in a downtrend and probably the market is forming a new trend. The price is likely to move in form of a descending channel from (129.92),(bullish reversal pattern). I expect this pair to continue to drop up to the end of the minor corrective wave c,(129.92). You can open a sell trade now with your profit target at (129.92), and stop loss at 133.96.

Trade Recommendations:

We’re sellers.

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