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USD/JPY. Correction in the Fourth Wave Continues.

USD/JPY. Correction in the Fourth Wave Continues. | 30 July 2024

30 July 2024, USD/JPY

USD/JPY. Correction in the Fourth Wave Continues.

As expected, there were no significant changes during the past trading day. The price remained essentially at the same levels as the previous day due to the uncertainty typical of corrective waves. Currently, it is assumed that wave 4 in the downward impulse is forming.
In the near future, there is a high probability of trading within a narrow price range, followed by a renewed downward movement that will be impulsive. This will be due to the formation of the final wave 5 of the same downward impulse.
Trades for selling in this situation can be opened upon breaking the level of 153.05.
Investment idea: sell at 153.05, stop loss at 153.30, take profit at 151.30.

Bob Stan
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