USDJPY – The situation remains favorable for the beginning of an impulse decrease

09.06.2023

The price continues to stay inside a certain price range. Now it is on the lower border and probably there will be an attempt to break through the local minimum and start the directed movement.

The situation disposes to this, as the completion of a major correction in the form of a double zigzag and the beginning of an impulse decrease during which the third wave of a zigzag correction of an even higher level will be formed.

Thus, it is recommended to wait for the breakdown and fixation of the price below 138.30, to make a decision about the conclusion of sell deals.

Recommendations: Sell 138.30, SL 138.55, TP 127.30.