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USD/JPY. The price continues to form a correction.

USD/JPY. The price continues to form a correction. | 23 September 2024

23 September 2024, USD/JPY

USD/JPY. The price continues to form a correction.

The situation on the considered pair is also evolving within the framework of the previously considered wave scenario. It should be remembered that, presumably, a correction is currently underway in the form of a flat.
Specifying further, the current formation of the specified model's final part, namely its wave C, which is an impulse, is assumed. Now, perhaps, the work on the first wave of this impulse is coming to an end, and soon there may be a corrective pullback, but before that, the price will still grow a bit.
Neither buying nor selling in this situation seems promising, as there is little room left for growth, and the time for decline has not yet arrived, so it is recommended to wait for the completion of the development of the specified first wave of the impulse included in wave C, and after that try to catch a small corrective pullback, or wait out this decline and start buying with the aim of capturing the movement within the formation of the third wave.
Investment idea: flat.
Bob Stan
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