USDJPY continues to move down. At the same time, signals appeared on the chart indicating a possible upward price reversal.
Wolfe Waves of a bullish pattern are forming on the chart, indicating a possible uptrend. If point 5, which is the lower point of the wave, is reached, the model predicts an upward reversal. On the chart, the support area is highlighted in green, and the resistance line is formed through points 1 and 4.
For USDJPY now the most evident trading strategy is opening the long positions. A trader can enter the market at the current levels or when a preset level is being retested.
📌 Entry: 147.786
✔️ First goal: 147.962
❌ Stop order: 147.663
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