USDJPY – The dollar still has room to grow

26.05.2023

The dollar continued to strengthen against the Japanese yen. Once again, the local maximum was updated, but buyers are unlikely to stop there. The price is likely to continue rising in the near future, which will lead to the completion of the development of the wave 3 of the upward impulse.

Then transition to a corrective phase is expected, and then a new impulse growth in the final wave 5.

Thus, it is recommended to keep previously opened buy trades in operation. Also at updating of a local maximum it is possible to open new transactions.

Recommendations: Buy 140.20, SL 140.00, TP 142.20.