USDJPY – Down
USDJPY is currently in a corrective phase and upon closer examination of the outer major wave, it appears to be forming a (V) major wave pattern that originates from major outer IV at 130.74. This indicates that the corrective phase of the outer wave will form the inner impulsive wave (V). Furthermore, the pair has formed an ascending channel from 133.61 to 134.94, which is a bearish reversal pattern. If you wish to take advantage of this, you can place a sell order now, or wait for the price to break below the lower trendline of the ascending channel.
Trade Recommendations:
We’re sellers
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
