USDJPY – Resumption of impulsive decline

15.03.2024

The expected decline in the pair in question has not happened yet either. The price continued to grow, but the movement is not confident enough, it looks more like a corrective one. Most likely it is. Then the development of the next descending wave may start soon.

It can happen from the current values, given that the price has hit the resistance level. The beginning of the decline will lead to the renewal of the current lows.

In this regard, it is worth considering opportunities to make sell trades at the current market values, setting a protective stop loss order just above the indicated resistance level.

Recommendations: Sell 148.30, SL 148.60, TP 145.00.