USDJPY – Yen can’t do anything against the dollar

11.08.2023

The yen can’t oppose the gaining momentum of the dollar. The price has reached the previously marked critical level and will cross it during the day. The option with a simple zigzag seems to be wrong.

The most plausible in this situation is the scenario with a triple zigzag. But even here there are some points that can not help but confuse.

For example, if we compare the waves x and xx, we can see that they seem to be from different timeframes. However, nothing suitable can be seen yet. Perhaps, the situation will become clearer in time.

For now, the pair is expected to continue growing, which will be impulsive in nature and will be part of the wave z. In this regard, it is recommended to take a closer look at the possibility of making deals to buy.

Recommendations: Buy 144.80, SL 144.55, TP 148.00.