USDJPY-06/21/2023
Preferred direction: SELL
Comment: The Japanese yen has been rising, and trying to catch a V-revers is not the best idea. However, the pair has a good potential for a correction against the background of a well-established pattern of horizontal levels, as well as volume distribution. In addition, the yen will also actively respond to the speeches of the head of the Fed today and tomorrow. According to this instrument, the best entry set up would be a phased one, that is, with a gradual set, of course, we determine the overall risk and do not go beyond the limits.
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Comment: The Japanese yen has been rising, and trying to catch a V-revers is not the best idea. However, the pair has a good potential for a correction against the background of a well-established pattern of horizontal levels, as well as volume distribution. In addition, the yen will also actively respond to the speeches of the head of the Fed today and tomorrow. According to this instrument, the best entry set up would be a phased one, that is, with a gradual set, of course, we determine the overall risk and do not go beyond the limits.
Thank you for like and share your views!
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