USDJPY – The probability of a reversal remains high

29.09.2023

Unlike the euro and the pound, the yen practically did not take advantage of the opportunity to somehow improve its position. The rate practically remained at the same values as before.

Perhaps, some reaction will take place during today’s trading day. The beginning of the pair’s impulsive decline is still expected due to the formation of the descending impulse.

The reversal signal is the presumably formed final diagonal triangle in the final wave (c) of z, triple zigzag.

Thus, it is necessary to wait for the price breakdown of the lower formation of the mentioned model and start actively selling.

Recommendations: Sell 148.60, SL 148.85, TP 144.50.