USDJPY – A reversal may have occurred

08.09.2023

The yen is also likely to try its luck and start putting pressure on the dollar. The possible completion of the upward correction development in the form of a triple zigzag is indicated by the completed structure and an attempt on the part of sellers, which turned out to be a little bit confused and the sharp decline was quickly bought back.

In any case, we are unlikely to see another update of the local maximum in the near future. The reversal probably happened, which means that the price may go into a sharp impulsive decline in the near future.

In this regard, it is recommended to start selling at current market values.

Recommendations: Sell 147.10, SL 147.45, TP 138.00.