USDJPY – Down
USDJPY has completed its formation of the impulsive „V“ wave pattern and is now in the process of forming a corrective 3-wave pattern (ABC corrective). The market is currently in a corrective phase, and an ascending channel has formed from minor wave „a“ at 133.59 to the end of minor wave „b“ at 134.61, indicating a bearish reversal pattern. Given that the price has already broken below the lower trendline of this channel, we may now place a sell order with a reduced entry. Should the price break above 134.35 this setup will be invalidated.
Trade Recommendations:
Sell USD JPY Now
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