USDJPY – Continuation of impulse growth of the pair

19.05.2023

The Japanese yen could not cope with the rapid strengthening of the dollar value. Ultimately, the price passed the critical level for the development of the supposed horizontal triangle, indicating the fallacy of the scenario considered in its light.

However, there are still reasons to assume that we are facing a correction. It now appears in the form of a plane. In it, presumably, the final part, namely the C wave, which takes an impulsive form, is forming.

Then in the near future we expect a continuation of growth in wave 3 of C, which means that buying in this situation is the most promising trading decision.

Recommendations: Buy 138.60, SL 138.40, TP 142.70.