USD/JPY. The moment of truth is approaching. | 14 February 2024
14 February 2024, USD/JPY
The dollar's value against the Japanese yen is confidently moving towards last year's maximum. Along with this, the chances of realizing the proposed scenario, according to which the current growth is of a corrective nature, are diminishing.
The coming days will be crucial in this regard. If buyers manage to break through higher, the wave count will need to be reassessed. Otherwise, the price will reverse and begin an impulsive decline, during which wave (iii) of the downward impulse will form.
As nothing of this sort has happened yet, it is recommended to stay out of the market and closely monitor how events unfold.
Investment idea: Flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
