The USDJPY pattern formed on the chart indicates a possible change in the balance of the market behavior.
A Wolfe Wave pattern has been discovered, which consists of six five-wave components, where the first and third ones create an ascending resistance line. The USDJPY price is in the “Sweet Zone”, which is indicated in red on the chart. Completion of the pattern results in formation of the sixth downward wave, the target of which extends the line connecting the tops of waves 1 and 4.
At this time interval for USDJPY, trading recommendations suggest opening short positions.
📌 Entry: 155.483
✔️ First goal: 155.049
❌ Stop order: 155.550
