USD/JPY. Development of a Major Corrective Formation to Continue | 19 August 2024
19 August 2024, USD/JPY
The situation is gradually stabilizing. Strong directional movements are unlikely to be expected in the near future. It is more probable that the price will move in jumps, fluctuating both up and down, confusing both buyers and sellers.
The reason for this is the formation of a correction, which may turn out to be quite extensive. It is difficult to comment on its structure as it is still unclear how it will develop. Therefore, it is necessary to spend some time observing the situation.
To avoid getting caught in manipulative sharp jumps in either direction, it is recommended to minimize trading activity as much as possible.
Investment Idea: Flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
