USDJPY is currently very bearish, and we expect the market to remain bearish at least until the end of this week. The market is currently forming the minor wave ‘C’, indicating that this pair is still in a corrective phase.
Moreover, the market has formed a rising wedge, and as we can see from the chart above, it has broken below the lower trendline of this rising wedge. You can place a sell order with a take profit at the next support zone, which is at 134.45. Stop loss at 133.99. Use proper risk management.
Origin: FreshForex
