USD/JPY. The price is starting to wake up. | 29 February 2024
29 February 2024, USD/JPY
The USD/JPY pair is beginning to show activity. Failing to surpass the local maximum for the third time, the price sharply declined towards the signal level. An interesting perspective for a prolonged impulsive decline is emerging.
The yen could strengthen significantly, leading to the realization of the envisaged wave scenario, according to which the development of wave (iii) of the downward impulse is expected in the near future.
One can consider opening sell positions at current market values without waiting for the specified level to be breached.
Investment idea: Sell at 149.75, stop loss at 150.00, 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.
