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USD/JPY. Growth is expected in wave (ii).

USD/JPY. Growth is expected in wave (ii). | 03 January 2024

03 January 2024, USD/JPY

USD/JPY. Growth is expected in wave (ii).

The price did not attempt to continue the decline, confirming the previously considered alternative wave labeling. Currently, there is an attempt to grow. It is likely due to the beginning formation of corrective wave (ii) in the emerging downward impulse. In this case, in the near future, we may see a fairly decent price jump. It is assumed that the correction will take the form of a simple zigzag. As everything is unfolding as expected, it is worth considering the current situation for entering into buy transactions at the current market values.
Investment idea: Buy at 142.10, stop loss at 141.75, take profit at 144.50.

Bob Stan
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