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USD/JPY. The dollar will continue to appreciate against the yen.

USD/JPY. The dollar will continue to appreciate against the yen. | 02 July 2024

02 July 2024, USD/JPY

USD/JPY. The dollar will continue to appreciate against the yen.

The situation with this pair continues to develop under the full control of buyers. The dollar has completely overpowered the yen, and is now growing slowly and steadily, knowing that there will be no strong resistance at the current price level. Thus, another trading day will end with the renewal of price highs. The growth is happening within the formation of the extending wave 3 of (5) and still has significant potential for further advancement. In light of this, it is recommended to keep previously opened buy positions active and, if possible, to open new ones. However, no matter how clear the situation seems, it is always important to remember the risks and set a stop loss.
Investment idea: Buy at 161.50, stop loss at 161.25, take profit at 163.50.

Bob Stan
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