USDJPY
H4 - The price has approached the upper border of the downward channel. There are 2 scenarios possible: a rebound from the border and continued movement towards updating local minima.
If it fixes behind the trend line, the price may continue its corrective growth from the higher timeframe.
To consider an entry, it is better to expect the formation of a 3-wave structure for sales; for purchases, it is better to expect fixation and retest behind the trend line
What can you expect?
Waiting for a 3-wave structure and considering selling; if you are considering entering from these levels, reduce your risk so as not to fall into a continuation of the upward movement.
Short
Target 143.417 - 142.482 - 140.925 - 140.144
H4 - The price has approached the upper border of the downward channel. There are 2 scenarios possible: a rebound from the border and continued movement towards updating local minima.
If it fixes behind the trend line, the price may continue its corrective growth from the higher timeframe.
To consider an entry, it is better to expect the formation of a 3-wave structure for sales; for purchases, it is better to expect fixation and retest behind the trend line
What can you expect?
Waiting for a 3-wave structure and considering selling; if you are considering entering from these levels, reduce your risk so as not to fall into a continuation of the upward movement.
Short
Target 143.417 - 142.482 - 140.925 - 140.144