USDJPY – Correctional growth possible

05.05.2023

The dollar continued to weaken against the Japanese Yen. So far, the situation suggests the development of the correction taking the form of a horizontal triangle. In it, probably, a wave d is formed, the target for the decrease within this wave lies on the designated lower forming model.

However, at this moment, the price is likely to go up, so opening trading positions to sell at current market values is not recommended.

You can try to catch this corrective bounce by buying at current prices.

Recommendations: Buy 133.90, SL 133.70, TP 135.50.