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Week Ahead: highlights include China trade and inflation, RBA, UK GDP

news_22_feb_1_usd_jpy-USDJPY is dropping nicely, just as we predicted in our previous analysis (11/2/2023). We observe that the price is currently in an ABC corrective phase following the bullish impulsive phase, which concluded at the resistance zone of 151.70. We anticipate the price to drop, reaching at least the support zone at 146.26. This figure represents our target for the minor wave ‘a.’ You may consider initiating a short position, with your initial profit target set at 148.89 and your final target at 146.26.

Trade Recommendations:

We’re short for now

We're short for now

Origin: FreshForex


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