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USD/JPY. Expectations of Decline in the Fifth Impulse Wave Remain.

USD/JPY. Expectations of Decline in the Fifth Impulse Wave Remain. | 14 August 2024

14 August 2024, USD/JPY

USD/JPY. Expectations of Decline in the Fifth Impulse Wave Remain.

The activity observed during the previous trading day in the EUR/USD and GBP/USD pairs had little impact on the USD/JPY instrument. The price slowly and reluctantly drifted downwards, followed by a similar response from buyers, leaving the price almost unchanged.
There is a possibility that today's activity might improve. An impulsive decline is still expected due to the formation of the final fifth wave. The movement potential is interesting enough to consider participating.
Therefore, selling at current market values remains recommended.
Investment Idea: Sell at 146.90, stop loss at 147.15, take profit at 141.50.

Bob Stan
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