USDJPY – There is still no clarity in the current situation

16.02.2024

The Japanese yen, following the euro and the pound, is trying to seize the moment and change the situation in its favor. However, no special successes have been observed so far. The price has only slightly decreased, ready to rise sharply at any moment.

Something significant may happen during the next day, which would affect the further development of events. For example, the price may drop even lower, breaking the uptrend and the sellers would gradually take the initiative in their hands.

Or the dollar would make a decisive break through the maximum, canceling the current wave scenario. Or everything can remain as it is and postponed for an indefinite period of time. Then the price will simply get into a narrow range and move horizontally to the right.

In this regard, it is recommended to wait for any significant movement and then look for opportunities to make deals.

Recommendations: flat.