USDJPY – Corrective growth is about to end

24.11.2023

The dollar has already recovered half of the earlier rather rapid decline. At the moment, the price came to the lower border of the previously broken channel and got a little squeezed. Most likely, the price will be able to grow a little more and so a zigzag will be formed. So this growth is of a corrective nature. Then the next downward wave will start, which is the third in the emerging downward impulse.

Thus, it is recommended to wait for the completion of the current corrective growth, and then start selling. A good level to enter sell trades is 148.80.

Recommendations: Sell 148.80, SL 149.10, TP 144.50