Vladimir Ribakov analyzes USD/JPY on the daily chart, identifying a three-wave impulse followed by correction. He expects a reversal near the previous high if the price forms higher highs with bearish divergence and lower highs, signaling buyers are exiting.
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the dollar yen will try to complete the current rally before the turnaround. Okay, and going down to the lower time frame, this is how I see the, uh, daily chart. So the first move up was broken into the 3 waves, then we got a corrective movement, and I think we are right now completing Uh, this final wave again. Again, we have these key levels on the, on the go. Okay, it's a beautiful supply area slightly above the previous high, and once we get there, I will be paying attention to this scenario when the market will have the higher highs, or at least double top, with a bearish divergence and lower highs on the chart. Such conditions will show us that the buyers are leaving, uh, the pair behind before the turnaround and the flip.