While EUR/USD and GBP/USD lack notable directional movements, the USD/JPY pair is experiencing a strong impulsive decline. The price has finally begun forming the long-awaited impulse, likely in the development of wave 3.

This wave is expected to conclude soon, leading to a slight corrective increase driven by the formation of wave 4. For this reason, previously opened short positions should either be closed or secured by moving the stop-loss closer to the current market level.

At this stage, taking new trading actions is not advisable. It is important to monitor market developments over the next few trading days.

Recommendations: Flat.