USD/JPY – Week 23 – Messy B-wave.
In our previous outlook, we correctly anticipated USDJPY to make a small pullback and test the resistance area.
For next week, we expect the price to fall into a consolidation that can push the price towards the blue trendline. From there we will study the price action and decide if we will continue the bearish momentum or make one more top. Keep in mind that we are in the middle of a corrective B-wave and this might get a bit messy.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
For next week, we expect the price to fall into a consolidation that can push the price towards the blue trendline. From there we will study the price action and decide if we will continue the bearish momentum or make one more top. Keep in mind that we are in the middle of a corrective B-wave and this might get a bit messy.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
