USDJPY – There is still no clarity in the current situation

07.07.2023

There were problems with the final wave of growth within the framework of the upward impulse formation. The price traded in the sideways position for quite a long time, and yesterday instead of the expected growth, it took a step down. May be this step was made for a run-up, otherwise an impulsive downward move may occur, and it will turn out that the upward impulse has been formed completely, having finished a large correction in a simple zigzag.

In any case it is necessary to monitor the situation and see how the price behaves further. Whether the decline will start with renewal of the local maximum or the beginning of the downward movement has already been made.

In this regard, it is recommended to remain bystanders for the time being.

Recommendations: flat.