Elliott waves analysis – USD/JPY. The price continues to rise.

The price continues to rise and, apparently, is not going to stop anytime soon, approaching the previously established maximum with each step. The breakdown of this important value will once again cross out all the efforts of sellers and again force us to revise the current wave marking.

For now, there is a margin of space from the current price to the maximum, within which the price may try to turn around and go down to form a downward impulsive movement, which will become the third wave in a very large impulse on a higher time frame.

So far, no activity from sellers is observed; it is recommended to observe the development of the situation while staying outside any trading positions.