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USD/JPY. The Situation Remains Favorable for Selling.

USD/JPY. The Situation Remains Favorable for Selling. | 30 April 2024

30 April 2024, USD/JPY

USD/JPY. The Situation Remains Favorable for Selling.

After a sharp reaction from sellers to the sudden upward movement, the situation has begun to stabilize at a certain price level. Both sides have expended considerable effort, but ultimately one of the opposing parties will prevail. Currently, the initiative lies with the sellers, as they have managed to halt further advances by buyers.
Moreover, the wave pattern indicates the possible completion of the entire upward impulsive cycle with a final diagonal triangle in wave v.
Therefore, it is recommended to consider the possibility of entering into sell positions at the current market price.
Investment Idea: Sell at 156.75, with a stop loss at 157.00 and a take profit at 153.00.
Bob Stan
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