USDJPY – Expectations of decline in wave d of horizontal triangle, will remain

12.05.2023

During the last trading day, there were no significant changes in the pair in question. The strengthening of the dollar has so far only slightly reflected in the confrontation with the Japanese yen, where the beginning of the decline within the supposed wave d, has suspended. The price remained within the limits of the forming correction and waiting for a favorable moment to complete the initiated wave d, in a horizontal triangle.

The signal for action will be a breakdown of the local minimum, the target for the movement is preserved by the lower formation of the assumed model.

Recommendations: Sell 133.65, SL 133.85, TP 131.20.