USDJPY update 07/02/2023

1) Support Level has stood the test of recent historical price action on various occasion.
Therefore, it is expected that therefore, are immediate prospects the trend becoming
bullish until it picks its order block at point No.1

2) The price index started its journey from point Not.1 and created and fixed an order block
of discounted price for itself at point No.1.

3) The price is going to retrace to point No.2 in order to complete the circle and pattern.

4) The pattern of spending 9 days in consolidation is continue as highlighted, therefore, it is
expected that returning to point No.3 the price index will spend the same duration in
consolidation before making its next move.

5) The above assessment is duly supported by bearish diversion in volume.


P.S. Chart Assessment is entirely based of proposed probabilities and only for academic purposes.
It is not a trade recommendation of any kind. Please do your own assessment & research before
taking decision to execute any trade transaction.

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