Elliott waves analysis – USD/JPY. The pair’s corrective growth will continue.

As expected, the price of the pair began to rise. Thus, the assumption about the beginning of a corrective growth, which is the second wave in the emerging downward impulsive movement, is confirmed. Further, it is expected that the correction structure will continue to form, which will likely take the form of a simple zigzag. The variant of the correction structure development is schematically shown in the attached screenshot.

Thus, a continuation of the corrective price growth is expected in the near future, in which it is still possible to participate. Buy trades can be opened both at the current market value and on a retracement.