USD/JPY. The initiative is shifting to the side of the Japanese currency. | 05 12月 2023

05 12月 2023, USD/JPY

USD/JPY. The initiative is shifting to the side of the Japanese currency.

Regarding the analyzed pair, let's take a look at the daily chart. Here, we observe a strong impulsive rise with elongation in wave iii and a truncated wave v. By the way, on smaller timeframes, wave v was considered as a prolonged correction taking the form of a triple zigzag. Most likely, this was an error, and in subsequent analyses, this wave will be reassessed.
Currently, there is an attempt at a decline. The fact of truncation in the fifth wave indicates increased selling pressure. Therefore, the ongoing decline is unlikely to be a minor correction. Sales may intensify and lead to a significant price drop.
Thus, from a long-term perspective, the initiative seems to be shifting to the side of the Japanese currency. Whether it can handle this in the future remains to be seen.
Bob Stan
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.