USDJPY – Corrective growth may continue

19.01.2024

As it was supposed, the price could not continue to grow. But there is no strong corrective pullback either. The correction, probably, guided by the principle of alternation, began to form a shallow correction, which is presumably the fourth wave in the upward impulse, wave c of the zigzag.

Then in the future we can see the continuation of growth to the intended target, where the whole upward corrective structure will be completed and the price will begin to turn around.

The subsequent decline has a great potential for movement, so it is recommended to take a closer look at the possibility of making sell deals in the realization of the above scenario.

While the price has not reached the target values of the upward corrective movement, you can try to buy on the renewal of the current local maximum.

Recommendations: Buy 148.55, SL 148.30, TP 149.50.