USDJPY is displaying a strong bearish trend at present, indicating a continuation of the corrective phase. The market is currently in the process of forming the minor wave “c” with a target set at 139.61. It is recommended to initiate a sell order now, with a take profit at 139.61 and a stop loss at 141.63. It is crucial to implement appropriate risk management measures.
Please note that if the price were to reverse its direction and break above 141.63 with a strong impulsive move, this setup would no longer be valid.
Origin: FreshForex
