USD/JPY Trading Analysis (06/06/2025)
The trend is descending. The currency pair is trading within the 365-135 EMA range. The downward wave structure is truncated. There is bearish divergence on the Awesome Oscillator and the Stochastic Oscillator signals an overbought condition.
Trade idea:
- Buy when the descending wave structure begins forming and wave A breaches the sloping channel of the ascending truncated structure.
- Stop-loss below the local maximum of the ascending truncated structure.
- Price targets are 143.450 and 142.800.
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