It's Merely a Retracement

21 May 2023

In a world where media and forums express bearish sentiments towards USDJPY, my unwavering bullish stance may have caught your attention. While others see a bearish retracement, I invite you to see the bigger picture.

Take a glance at the weekly chart on the right, and you'll witness the bearish movement as nothing more than a mere retracement of the monumental US dollar skyrocketing trend I accurately predicted on 14th October 2021. It is this understanding that fuels my anticipation for an imminent buying opportunity.

My attention is fixed on the 1-hourly chart on the left, where the market is poised to retest the crucial level of 137.46. This critical juncture presents the ideal scenario for a potential buying opportunity, perfectly aligning with the formation of a Bullish Bat Pattern.

While others succumb to pessimism, I see the hidden potential for USDJPY to surge once again.