Elliott waves analysis – USD/JPY: Ending Diagonal Triangle in the Fifth Wave.

The Japanese yen is still struggling to take control, which the dollar is fully exploiting, once again shifting the situation in its favor and finding new opportunities for further strengthening.

Currently, it appears that an ending diagonal triangle is forming as wave 5. Confirmation of this wave scenario will come with the price reaching the upper boundary of the channel within which this pattern is forming, followed by a reaction from sellers. If the price starts to move downwards, it will be possible to consider opening sell positions.

Until this moment, it is not recommended to open any trades.