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USD/JPY. There is still no clarity in the current situation.

USD/JPY. There is still no clarity in the current situation. | 16 February 2024

16 February 2024, USD/JPY

USD/JPY. There is still no clarity in the current situation.

The Japanese Yen, following the Euro and the Pound, is trying to seize the moment and change the situation in its favor. However, there is no significant progress yet. The price has only slightly declined, ready to sharply rise at any moment.
Something significant could happen during the next day that would impact the further development of events. For example, the price could drop further, breaking the upward trend, and sellers could gradually take control. Alternatively, the dollar could make a decisive breakthrough above the maximum, canceling the current wave scenario. Or everything could remain as it is and be postponed indefinitely. In that case, the price would simply consolidate in a narrow range and move horizontally.
Therefore, it is recommended to wait for some significant movement and then look for opportunities to enter trades.
Investment idea: Flat.
Bob Stan
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