USDJPY – The formation of a finite diagonal triangle will soon come to an end

22.09.2023

On the pair under consideration the situation continues to develop within the assumed scenario. According to it, the formation of the final part of the correction, which takes the form of a triple zigzag, is underway. Within this model there is the formation of wave (c), which is likely to end in the form of a final diagonal triangle.

This pattern, as it was mentioned earlier, signals about an imminent reversal. The signal for conclusion of deals on sale in this case, will be the breakdown of the lower forming model, or fixation of the price below the marked level.

Recommendations: Sell 147.35, SL 147.60, TP 127.50.