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