USD/JPY. Beginning of the Final Wave of Growth. | 16 July 2024
16 July 2024, USD/JPY
There have been no significant changes in the USD/JPY pair over the past trading day. The price dipped slightly, breaking the trendline, but quickly returned, suggesting the completion of the corrective wave 4 of (5).
If this is the case, we can expect the resumption of the upward movement, driven by the formation of the final wave 5 of the extended bullish impulse. Ultimately, this may lead to a new high followed by a reversal.
In this situation, it is advisable to consider buying at the current market levels.
Investment idea: buy at 158.60, stop loss at 158.30, take profit at 162.40.
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.
