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USD/JPY. A promising opportunity for entering sell trades.

USD/JPY. A promising opportunity for entering sell trades. | 12 January 2024

12 January 2024, USD/JPY

USD/JPY. A promising opportunity for entering sell trades.

The price made an attempt to grow further, but it only managed to barely update the local maximum. Active selling has begun, which could bring the price back to the starting point of this wave's rise.
It is still assumed that wave b of a zigzag is forming in this way. The potential for movement is quite good, and considering entering sell trades at the current market values is an option.
Moreover, it may turn out that the zigzag is finally formed, and by starting to sell now, we might enter at the very beginning of the development of wave (iii) of the descending impulse.
Thus, the situation looks quite promising for selling, and it is recommended to consider participating in this movement.
Investment idea: Sell at 145.10, stop loss at 145.50, take profit at 143.25.

Bob Stan
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