Elliott waves analysis – USD/JPY. The price will continue to move down.

The situation for the pair under consideration is developing within the previously considered scenario. Apparently, the upward impulse really ended with the formation of a final diagonal triangle as wave c. Thus, immediately after that, a decline began, during which the price broke through the lower forming model, signaling a change in trend.

Now we see how the price gradually accelerates moving lower and lower. Ultimately, sellers may try to reach the current minimum set by wave b, and for this it is necessary to overcome a significant distance.

As a result, we have a potentially promising opportunity to make a profit when concluding sell transactions.