USDJPY - SELL IDEA
The USDJPY chart indicates a short opportunity. The pair has completed a five-wave upward movement and is now in a corrective phase. The price is expected to retrace to one of the Fibonacci levels (0.618, 0.5, or 0.424) before continuing downward towards the targets near 145.296, 144.684, and possibly 143.693.
Consider entering a short position as the price retraces to these Fibonacci levels with a stop-loss above the recent high. The targets could be the completion of wave (c) at the identified levels.
Consider entering a short position as the price retraces to these Fibonacci levels with a stop-loss above the recent high. The targets could be the completion of wave (c) at the identified levels.
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