USD/JPY. The Upward Movement Will Soon Conclude. | 17 April 2024
17 April 2024, USD/JPY
The dollar continues to firmly hold the initiative, not giving opponents a chance to launch a counterattack. The exchange rate is slowly but surely rising, heading towards the expected target around 155.00.
Possibly by the end of the current trading week, this target will be reached, and the final diagonal triangle will be almost fully formed.
The price will begin to prepare for a reversal and the start of a prolonged decline, aimed at correcting the entire strong upward impulse.
In this situation, it will be necessary to wait for the development of the initial impulse movement, after which opportunities to enter short positions can be sought.
Until then, it is recommended to stay out of the market.
Investment Idea: Flat.
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.
