Elliott waves analysis – USD/JPY. The price might enter a slight correction.

While there are some intrigues with the major European currencies traded against the dollar, the situation here remains quite calm. The Japanese yen made a weak attempt to pressure its counterpart, but nothing significant came of it. Most likely, we will see a slight pullback or sideways movement, after which the upward movement will resume. It is still assumed that the current growth is impulsive and driven by the development of wave 3 of (5). The potential trajectory is indicated on the accompanying chart. Nothing particularly interesting is expected for now, so a possible slight pullback in the price can be considered for more advantageous buying opportunities.