USDJPY is currently in a corrective phase, specifically forming the minor corrective wave “b.” The expectation is for the market to form a corrective pattern, potentially an ascending channel, which is considered a bearish reversal pattern.
The projection is for the price to form a double top at 143.80, which serves as the target for the completion of the minor corrective wave “b.” Following this, a drop is anticipated, with a target of 142.22. To take advantage of this analysis, you can consider placing a sell order once the double top pattern is confirmed near 143.80. This would align with the expected bearish reversal in the corrective phase.
Origin: FreshForex
