Elliott waves analysis – We’re short for now


USDJPY is currently exhibiting strong bearish sentiment, having already broken below the trendline resistance zone impulsively at 149.99. Despite this, the pair remains in a corrective phase, forming the minor wave ‚a,‘ with our target set at the support zone of 146.36. We anticipate continued bearishness for the better part of today, provided that the price remains below 146.36. Our expectation is for the price to decline to the 146.36 level. Consider initiating a short position with a profit target at 146.36.

Trade Recommendations:

We’re short for now

You may check other analytical reviews on FreshForex website. Source: freshforex.com.