USDJPY: Anticipating Bearish Momentum

Hello traders,
Trust you are doing great.

Here is my concise Elliott wave view of the USDJP pair.

Trend: Bearish (Local trend) initiated at 151.912.

Structure: Wave 4 ABC correction, began at 147.150, appears completed at 149.746.

Anticipation: Expecting impulsive bearish structure in Wave 5.

Confirmation: Await breakout below 148.889 to the downside.

Invalidation Zones: 149.760 and ultimate invalidation at 150.059.

Targets: Downside objectives at 147.150 and 146.630.

Cheers and happy trading!

Comment:

Price objective met.

Trade closed: target reached