Despite the steady decline in price, the USDJPY chart is giving signals about a possible completion of the current bearish momentum.
The medium-term movement vector of USDJPY indicates the formation of a Triple Three wave structure. Now the formation of the wave [xx] is completed and the beginning of an upward movement within the wave [z] is expected.
Waves of a lower time-frame form a triple three. The price is currently in the wave (z). When this wave is completed, a more directional price movement is expected.
To summarize, at the moment the USDJPY chart is maintaining a downward movement vector. However, the corrective wave is in the final stage of formation.
In this situation, long positions are prioritized.
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