USDJPY – The reversal is cancelled

13.10.2023

The unwillingness of the price to decline casts doubt on the assumption that the reversal has taken place. Most likely, the price just made another correction, which is the fourth wave in the final diagonal triangle. And the triangle itself is not convergent, but forming inside the ascending channel.

Then in the near future we will see the continuation of the pair growth, during which the final fifth wave of the model will be formed and after that the yen will try to make a reversal again.

You can try to make some profit on this movement.

Recommendations: Buy 149.90, SL 149.70, TP 151.00.