USDJPY is currently in a corrective phase, with the market currently at the level of minor corrective wave “b” at 139.15. The formation of a double top at this zone serves as a bearish reversal pattern, indicating a potential downward movement.
Furthermore, the presence of a bear flag pattern, extending from minor wave “a” at 137.21 to minor wave “b” at 139.15, strengthens the bearish sentiment. Traders have the option to enter a sell order now or wait for a break below 137.99 before considering a sell trade entry.
Origin: FreshForex
