USDJPY – Down
USDJPY is dropping smoothly just as we had predicted in our previous analysis. The market is in a corrective phase (ABC corrective pattern). The market is forming lower highs and lower lows. This shows that the market is in a downtrend and probably the market is forming a new trend. The price is likely to move in form of a descending channel which is a bullish reversal pattern from (129.92) to around 129.92. If you have any open sell trade, move the stop loss to break even and place your take profit at 129.92.
Trade Recommendations:
We’re sellers for now
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