USDJPY – Down
Wave Analysis:
This pair is currently trading on a downtrend, previously the price rebounded from the impulsive wave cycle three at the lower trendline towards the corrective wave cycle four on the upper trendline ,where the price is currently at. I expect the price to bounce back from 136.93 towards the lower trendline around 134.40 in continuation of the impulsive wave cycle five. However, should the price break above the upper trendline, then the bulls will be in control but as of now we are sellers.
Trade Recommendations:
We are short.
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