USDJPY – Down
The dollar’s value against the Japanese yen is confidently moving towards last year’s maximum. Along with this, the chances of realizing the proposed scenario, according to which the current growth is of a corrective nature, are diminishing.
The coming days will be crucial in this regard. If buyers manage to break through higher, the wave count will need to be reassessed. Otherwise, the price will reverse and begin an impulsive decline, during which wave (iii) of the downward impulse will form.
As nothing of this sort has happened yet, it is recommended to stay out of the market and closely monitor how events unfold.
Investment idea: Flat.
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