05 Mei 2023, USD/JPY
USDJPY has been bearish since the beginning of this week, and it is currently in a corrective phase (ABC corrective pattern). The market has already formed the minor wave "a" at 133.49. I anticipate that the market will rise from this minor wave "a" where it is now up to 134.50, which is our minor corrective wave "b" target. You can consider placing a buy order now with your take profit at 134.50 and stop loss at 133.20. Lastly, should the price break below 133.20, this setup will be invalidated.
Trade Recommendations:
We're short towards 131.60