Elliott waves analysis – USD/JPY. Expectations of impulsive decline in the third wave remain.

The situation for the analyzed pair during the past trading day remained almost unchanged. The price stalled near the previously established local high. Apparently, this passivity is caused by the expectation of the US presidential election results.

This event may significantly impact the activity of trading pairs, so the coming days may mark the beginning of medium- or long-term directional movements. In particular, for the analyzed pair, the situation is considered favorable for impulsive decline within the development of the third downward impulsive wave.

Therefore, it is possible to continue holding previously opened sell transactions.