USD/JPY. Price Continues to Keep Intrigue. | 21 February 2024
21 February 2024, USD/JPY
While the dollar may be experiencing certain difficulties against major European currencies, the situation with the yen remains stable. The price remains within a defined correctional structure and could either rise rapidly or fall rapidly.
The latter scenario remains dominant for now, as the recent upward movement closely resembles a correction in the form of a double zigzag. Moreover, the price maximum has not yet been surpassed.
A breakthrough of the indicated level would be the factor that cancels the considered wave scenario. Until that happens, the breakthrough of the designated support level is considered a signal to enter short positions.
Investment idea: Sell at 149.45, stop loss at 149.80, take profit at 145.00.
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.
