Elliott waves analysis – USD/JPY. The dollar still intends to attempt to update current highs.

Despite the recent pullback, the dollar is still determined to challenge the important highs. The earlier retracement may just be a precursor to breaking through this resistance level. In that case, the previously considered scenario of the continuation of wave 5 of v in the final diagonal triangle may be chosen as the primary scenario.

The price is expected to rise significantly in this scenario, so it’s worth preparing for potential purchases. However, it’s not advisable to rush into these trades just yet. Given the recent market volatility, there could be another unpleasant surprise in store. It’s better to wait for a lull and for the right moment to engage in active trading.