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USD/JPY. The price is ready to continue its decline.

USD/JPY. The price is ready to continue its decline. | 28 December 2023

28 December 2023, USD/JPY

USD/JPY. The price is ready to continue its decline.

The price in the considered pair has also moved unfavorably for the dollar. The decline was expected, and now the price is trading near a level, a breakthrough of which will activate a sell signal. This will confirm the assumption of the beginning of the development of wave (iii) of the initial diagonal triangle.
Since third waves are generally the most prolonged, we have a chance for a very good movement in the near future. It is definitely worth participating in it, the main thing is that the market does not present any surprises.
The investment idea in this situation looks as follows: Sell at 141.80, stop loss at 142.25, take profit at 137.00.
Bob Stan
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