USDJPY – Down
USDJPY has been moving in form of a descending channel from (145.09) to (129.46). The market has broken below the upper trendline of this channel impulsively at (129.92). The market is currently moving in form of a corrective 3wave pattern. I expect this pair to buy up to around,(137.37), we will mark this level as our minor corrective wave c. At (132.91) there is a major resistance zone, should the price fail to break above this level, we will close all open buy orders. If you have any open buy orders I would advise you to hold and place your take profit at (130.00).
Trade Recommendations:
We’re buy above 132.51
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