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USD/JPY: Situation Remains Promising for Sales

USD/JPY: Situation Remains Promising for Sales | 03 June 2024

03 June 2024, USD/JPY

USD/JPY: Situation Remains Promising for Sales

Activity in this pair has calmed down a bit. After significant price swings, the market has taken a breather, resulting in a zigzag correction on the chart. This corrective pattern now appears to be complete.
Consequently, the price may soon attempt a move, which, according to the wave analysis, is expected to be downward. This is due to the development of wave (3) of the descending impulsive movement.
The potential for sell trades remains strong, so it is recommended to consider selling at current market levels.
Investment Idea: Sell at 157.00, stop loss at 157.25, take profit at 140.00.

Bob Stan
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