Elliott waves analysis – We’re short

USDJPY – Down

USDJPY is currently bearish. The price reversed and formed a double-top pattern at the zone around 142.24. This formation is typically regarded as a bearish reversal pattern, which, combined with the ongoing corrective phase, strengthens the sell confirmation. Based on this analysis, it may be appropriate to consider entering a sell order. To set your trade parameters, you can place a sell order with a take profit target set at 139.11, which aligns with the projected target for the completion of the minor wave „a“ in the corrective phase.

Trade Recommendations:

We’re short

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