USDJPY – The price continues to wander aimlessly within a certain range

04.11.2022

There is still nothing important happening for the pair in question. The price continues to trade in a certain price range, probably, forming a corrective wave. On this basis, the previously assumed scenario of events remains relevant.

Earlier, probably, the development of a prolonged upward impulse ended. Then a sharp downward movement followed, probably a downward entry wave, and the price is stuck in the current price frames.

In this situation, it is necessary to wait for the start of a downward directional movement and start selling. Decrease is assumed in the third wave of the descending impulse.

Recommendations: Sell 147.50, SL 147.75, TP 140.00.