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USD/JPY. A small correction before further growth.

USD/JPY. A small correction before further growth. | 05 July 2024

05 July 2024, USD/JPY

USD/JPY. A small correction before further growth.

In this pair, we unexpectedly saw a slight decline. So far, it looks like a corrective pullback within the forming upward impulsive movement. The price may decrease a bit more before another buying wave brings it back to the previously established highs. It is assumed that this will complete the development of wave 3 of (5). Overall, the situation remains within the previously considered scenario, and no significant changes are expected in the near future. In this situation, it is recommended to buy at the end of the current corrective pullback at the first signs of renewed growth.
Investment idea: Flat.
Bob Stan
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