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USD/JPY. The intrigue has revived.

USD/JPY. The intrigue has revived. | 21 March 2024

21 March 2024, USD/JPY

USD/JPY. The intrigue has revived.

In yesterday's analysis of the pair, it was suggested that the dollar would likely break the maximum and continue to rise further. However, as the price approached this important extreme, sellers aggressively pushed the price down.
The intrigue has revived once again. The price may still begin an impulsive decline. The recent rise could be seen as a correction taking the form of a flat pattern.
There is no need to rush into opening any trades in this situation. It is necessary to wait for the formation of a correction to the small bearish wave formed yesterday. After that, selling can be initiated on a break below the resulting local minimum.
Investment idea: Flat.
Bob Stan
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