USD/JPY. Expectations of a correctional increase remain. | 10 September 2024
10 September 2024, USD/JPY
The probability that the price would immediately overcome the level set earlier by wave 5 was very low, and eventually sellers really couldn’t push the price lower. Now there is a weak rebound observed, which could later become stronger.
Presumably, now the next wave of the forming correctional structure is being developed. So far, the potential growth is considered as wave C in a flat. The specified wave in this model is impulsive, meaning we can expect a good upward movement to the maximum set by wave A.
Thus, concluding purchase transactions looks like a sufficiently promising trading decision.
Investment idea: buy 143.35, stop loss 143.00, take profit 148.50.
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.
