USDJPY – Down
Wave Analysis
USDJPY has finished forming the impulsive 5wave pattern and it’s currently correcting to the downside. The market is currently at 131.747 and is moving to form the impulsive minor wave c. I expect the price to break below the minor corrective wave a which is 131.120 and to move up to 129.120 which will likely be the end of the wave and the minor corrective wave in general. You can place a pending sell order below minor wave a,131.120, with a tight stop loss at 131.747and the take profit at 129.120.
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