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USD/JPY. No Signs of a Reversal Yet.

USD/JPY. No Signs of a Reversal Yet. | 26 June 2024

26 June 2024, USD/JPY

USD/JPY. No Signs of a Reversal Yet.

The situation with the USD/JPY pair continues to deviate from the expected plan. The price is not showing a willingness to fall; each decline is quickly bought up, leading to a slight increase in the dollar's value. Currently, we see the price solidifying beyond the channel where the final diagonal triangle was anticipated to form.
It is possible that in this model, wave 5 will be the most prolonged, and we might see another update of the maximum, meaning the assumption of a truncated final wave in the form of an ending diagonal triangle is incorrect.
In this situation, it is best to wait for the beginning of a decline and look for entry opportunities for sell positions on a corrective pullback. Until then, it is better to stay out of the market and continue monitoring the development of events from the sidelines.
Investment Idea: Flat
Bob Stan
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