USDJPY – Development of the third descending impulse wave continues

22.12.2023

The situation on the pair under consideration continues to develop within the framework of the previously proposed wave scenario. The price is neatly declining within the suggested wave (iii). At the moment it is approaching the minimums from which the price bounced twice. Most likely, the price will react to this level again and the price will bounce a bit, after which a breakdown will occur and the price will go further down.

In this regard, it is recommended to wait for this bounce to happen and start actively selling at the next decline. Until then, previously opened sell trades can be kept in work, and it is not recommended to open new ones.

Recommendations: Sell 141.30, SL 141.65, TP 137.50.