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USD/JPY. The yen may finally lose momentum.

USD/JPY. The yen may finally lose momentum. | 05 February 2024

05 February 2024, USD/JPY

USD/JPY. The yen may finally lose momentum.

The Japanese yen is losing momentum decisively. Instead of the expected decline, we are witnessing an upward movement. The last chance to realize the scenario of a downward movement is to form a zigzag pattern before reaching the designated critical level. Then the entire upward structure, which began at the end of December last year, may take the form of a double zigzag.
After this, sellers may make another attempt to significantly push down the dollar exchange rate.
In the current circumstances, it is worth considering the possibility of entering buy trades.
Investment idea: Buy at 148.50, stop loss at 148.25, take profit at 150.00.

Bob Stan
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