USDJPY – Down
USDJPY has been bearish for the better part of this week. The market is forming the 5 major impulsive waves pattern. As we can see on the chart above the market formed an ascending channel(A bearish reversal pattern) from 129.63 to 133.65. The price has already broken below the lower trendline of this ascending channel Impulsively. You can place sell orders now with your take profit at (127.63) and stop loss at (132.17). Lastly, should the price break above 132.17 this setup will be invalidated.
Trade Recommendations:
We’re sellers for now
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
