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USD/JPY. Potential Development of Impulsive Downward Movement.

USD/JPY. Potential Development of Impulsive Downward Movement. | 25 June 2024

25 June 2024, USD/JPY

USD/JPY. Potential Development of Impulsive Downward Movement.

During the past trading day, the price experienced some volatility. Initially, the yen attempted to take the initiative, creating a bright but short-lived impact. Buyers quickly managed to bring the price back.
However, it is currently observed that the price is gradually sliding lower. It is possible that the entire upward impulse with the ending diagonal in wave (5) has indeed completed. If so, the pressure from sellers will likely increase, driving the price down further.
In this scenario, it is worth considering entering sell trades at the current market levels.
Investment Idea: Sell 159.35, Stop Loss 159.70, Take Profit 156.20.
Bob Stan
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