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USD/JPY. Price Continues to Consolidate.

USD/JPY. Price Continues to Consolidate. | 20 June 2024

20 June 2024, USD/JPY

USD/JPY. Price Continues to Consolidate.

Another trading day has ended without any significant events. The price continues to trade within a narrow range, showing no attempts to either rise or fall.
As a result, the previously considered wave scenario remains valid. A final burst of activity from buyers is expected, which will lead to the price reaching the upper boundary of the channel, within which the ending diagonal triangle is forming.
This is anticipated to conclude the long-lasting upward impulse cycle and initiate a bearish market phase.
While the price remains within the defined channel, it is advisable to refrain from taking any trading actions.
Investment Idea: Flat
Bob Stan
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