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USD/JPY. Expected Growth in the Fifth Wave of the Upward Impulse.

USD/JPY. Expected Growth in the Fifth Wave of the Upward Impulse. | 17 July 2024

17 July 2024, USD/JPY

USD/JPY. Expected Growth in the Fifth Wave of the Upward Impulse.

The dollar is making every effort to regain the lost initiative. So far, it has only managed to quell the sellers' attempt to quickly drive the price down to their unknown targets. Currently, there is an attempt to use the trendline, where the price has stalled, to start growing.
The situation is quite conducive to this, as the next upward phase will lead to the development of the final wave 5 of (5) in the prolonged bullish impulse. The movement potential is very good, but whether the dollar can realize this scenario is hard to say.
Based on this assumption, one can open buy positions and observe how the situation unfolds. In any case, the potential profit is much higher than the potential loss, so it is definitely worth considering opportunities for purchases.
Investment idea: buy at 158.00, stop loss at 157.75, take profit at 162.50.

Bob Stan
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