empty
12.03.2024 12:21 PM
USD/JPY wave analysis on March 12: Powerful bearish impulse forming—favorable period for selling

This image is no longer relevant

According to the current chart, the USD/JPY currency pair has completed the global active wave (W) within a potential double zigzag (W)-(X)-(Y). Wave (W) took the form of a standard zigzag A-B-C. On the last segment of the chart, we observe the development of a new bearish trend.

Most likely, an impulse is being formed, consisting of five sub-waves 1-2-3-4-5. The first two sub-waves 1-2 have been completed. Currently, the price is moving down in a more powerful impulse sub-wave 3. There is a high probability that the price will continue to fall towards the level of 141.82—the previous low marked by sub-wave [D].

After reaching the specified level, the price will rise in correction [4], after which the decline will continue in impulse [5], as shown on the chart. In the current situation, it is recommended to consider opening short positions.

As for important news that may impact the market, the report on the core Consumer Price Index (CPI) in the USA is noteworthy.

Trading recommendations: Sell at 147.35, take profit at 141.82.

Roman Onegin,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD Analysis on May 7, 2025

The wave pattern for GBP/USD has also transformed into a bullish, impulsive structure—"thanks" to Donald Trump. The wave picture closely resembles that of EUR/USD. Until February 28, we observed

Chin Zhao 19:55 2025-05-07 UTC+2

EUR/USD Analysis on May 7, 2025

The wave pattern on the 4-hour chart for EUR/USD has transformed into a bullish structure. I believe there's little doubt that this transformation has occurred solely

Chin Zhao 19:51 2025-05-07 UTC+2

GBP/USD Analysis – May 6th: The Pound Ignores the BoE

The wave structure for the GBP/USD pair has also transitioned into a bullish, impulsive formation—"thanks" to Donald Trump. The wave picture is nearly identical to that of EUR/USD. Prior

Chin Zhao 19:06 2025-05-06 UTC+2

EUR/USD Analysis – May 6th: The Fed Maintains a Hawkish Stance

The wave pattern on the 4-hour EUR/USD chart has transitioned into a bullish structure. I believe there is little doubt that this transformation occurred solely due to the new trade

Chin Zhao 19:03 2025-05-06 UTC+2

GBP/USD Analysis – May 5th. What is the Bank of England preparing for us?

The wave structure for the GBP/USD pair has also transformed into an upward, impulsive pattern — "thanks" to Donald Trump. The wave picture is almost identical to that

Chin Zhao 18:09 2025-05-05 UTC+2

EUR/USD Analysis – May 5th. Trump's New Tariffs Fail to Impress

The wave structure on the 4-hour chart for the EUR/USD pair has transformed into a bullish one. I believe there's little doubt that this transformation is entirely

Chin Zhao 18:06 2025-05-05 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, EUR/GBP, and US Dollar Index – May 5th

GBP/USD Analysis: The 4-hour chart of the British pound shows that a temporary corrective flat is forming within the dominant upward wave observed in recent weeks. The unfinished upward segment

Isabel Clark 10:43 2025-05-05 UTC+2

Weekly Forecast Based on Simplified Wave Analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold – May 5th

EUR/USD Analysis: The hourly chart of the major euro pair shows a dominant upward wave since early February. The correction forming over the past three weeks is nearing completion

Isabel Clark 10:32 2025-05-05 UTC+2

GBP/USD Analysis on May 1, 2025

The wave pattern for GBP/USD has also transformed into a bullish, impulsive structure—"thanks" to Donald Trump. The wave pattern is almost identical to that of EUR/USD. Until February

Chin Zhao 18:56 2025-05-01 UTC+2

EUR/USD Analysis on April 30, 2025

The wave pattern on the 4-hour chart for EUR/USD has shifted to a bullish structure. I believe no one doubts that this transformation occurred solely due to the new U.S

Chin Zhao 18:17 2025-04-30 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.