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USD/JPY. Possible Growth Within the Forming Correction.

USD/JPY. Possible Growth Within the Forming Correction. | 24 July 2024

24 July 2024, USD/JPY

USD/JPY. Possible Growth Within the Forming Correction.

While the dollar has slightly strengthened against major European currencies, it experienced a small decline against the Japanese yen. This movement is likely part of the current forming correction rather than something significant.
In the near future, the price might start to rise, completing the zigzag pattern or leading to a more complex correction. From the current levels, it is worth cautiously trying to buy, aiming to fix possible profits at the nearest local maximum. This scenario provides a clear entry point, levels for placing a stop order, and a take profit target.
Investment idea: buy at 155.35, stop loss at 155.00, take profit at 157.40.

Bob Stan
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