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USD/JPY. Development of a Major Corrective Formation to Continue

USD/JPY. Development of a Major Corrective Formation to Continue | 19 August 2024

19 August 2024, USD/JPY

USD/JPY. Development of a Major Corrective Formation to Continue

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.
Bob Stan
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