USDJPY – Down
USDJPY is dropping nicely, in line with our previous analysis (31/5/2023). The market is still in the process of forming the minor wave „a“ with our target remaining at 137.59. If you currently have a sell trade open, it is advisable to move your stop loss to breakeven. Additionally, if you haven’t opened a sell trade yet, now is the time to consider doing so. The market has formed an expanding channel, which is a bearish continuation pattern, confirming the ongoing bearish sentiment. Therefore, it is recommended to enter a sell trade now and set your take profit at 137.59.
Trade Recommendations:
We’re short
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