USDJPY – Down
USDJPY is presently shaping the impulsive (V) wave pattern. From the major impulsive wave (I) at 132.76, the market has been progressing in the form of an ascending channel, which is a bearish reversal pattern. Currently, the upper trendline of this ascending channel has only two touches. It is expected that the price will rise to at least 135.10, which is the endpoint of impulsive wave „V.“ However, prior to this, there is a possibility of the price experiencing a slight drop to 133.37 before rising. If the price drops below 133.37, this particular setup will be invalidated.
Trade Recommendations:
We’re long
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