Elliott waves analysis – USD/JPY. The attempt to decline proved unsuccessful.

There was also a burst of activity against the US dollar in the considered pair. The price broke the designated level, which was a signal for selling positions, but it failed to hold below. The price quickly returned above this level and continued to rise actively.

Uncertainty persists. The price from current levels can still either rise sharply or decline. Thus, the previously considered scenario remains relevant for now. Therefore, it is necessary to wait for the price to consolidate below the designated level before attempting to enter into selling positions again.