USDJPY – Price may continue its impulsive decline

01.12.2023

The dollar is trying to cling to the previously established local minimum, which has already been renewed, but it was done somehow uncertainly. The price even managed to grow sharply, but the movement is more like a zigzag, which means that we are likely to see a corrective growth followed by further decline of the pair.

It is expected that soon we will see the impulse structure of this downward movement. In this regard, making sell trades at the breakdown of the local minimum looks quite a promising trading decision.

Recommendations: Sell 146.80, SL 147.10, TP 144.50.