Elliott waves analysis – USD/JPY. Expectations for growth within the correction remain.

The situation with the trading pair is developing within the framework of the expected scenario. After a good decline representing a downward impulse, buyers are trying to react to it. They managed to halt the decline and rise slightly. However, this is not enough, and they are unlikely to stop there. This means that in the near future, there will be further attempts to rise. One of them, given the situation, will prove successful. This will lead to the completion of the zigzag formation, which is currently assumed to be developing.

In such a situation, entering into buy trades appears to be a fully justified decision. Buying can be done at current market values.