USDJPY – Down
USDJPY is presently undergoing a corrective phase following the ABC corrective pattern. As observed from the chart, the price is currently in the process of forming the minor corrective wave „b“. Our expectation is for a potential upward movement toward the target level of „141.21“, which we have identified as our major corrective wave „b“ zone. Therefore, it is possible to consider placing a buy order with a take profit set at „141.21“ and a tight stop loss at „138.03“ to manage risk effectively.
Trade Recommendations:
We’re waiting for a bullish correction.
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