Elliott waves analysis – USD/JPY. Correction development continues.

Activity in this trading pair has significantly decreased. This is due to the presumed development of a correction, which is likely taking the form of a simple zigzag. To complete it, the final upward wave is missing, and its formation is expected in the near future.

In light of this, the current situation should be seen as an opportunity to enter into short-term buy trades at current market values. Immediately afterward, a reversal and the beginning of a downward impulsive movement are expected, so getting overly involved in buying is not advised.