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USD/JPY. Expected Impulse Decline.

USD/JPY. Expected Impulse Decline. | 12 August 2024

12 August 2024, USD/JPY

USD/JPY. Expected Impulse Decline.

The situation for the USD/JPY pair remains calm. As expected, buyers failed to climb above the previously established local maximum, and the price has gradually started to pull back. It is likely that this pullback will continue throughout the day. This movement might indicate the beginning of wave 5 in the downward impulse.
Therefore, entering sell trades at the current market levels appears to be a promising trading decision. The target for this move is certainly the renewal of the current price minimum established by the presumed wave 3. After that, a major corrective rebound is expected to start.
Investment Idea: Sell at 146.80, stop loss at 147.05, take profit at 140.00.
Bob Stan
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