USD/JPY. Resumption of impulsive decline. | 15 March 2024
15 March 2024, USD/JPY
The expected decline in the pair has not materialized yet. The price continued to rise, but the movement lacks conviction, resembling more of a correction. Most likely, that's exactly what it is. Therefore, the development of the next downward wave may start soon.
This could happen from current levels, considering that the price has encountered a resistance level. The ongoing decline will lead to a retest of the current lows.
In this regard, it is worth considering opportunities to enter short positions at the current market values, setting a protective stop-loss order slightly above the indicated resistance level.
Investment idea: Sell at 148.30, stop loss at 148.60, 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.
