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USD/JPY. The downward impulsive decline may resume soon.

USD/JPY. The downward impulsive decline may resume soon. | 30 September 2024

30 September 2024, USD/JPY

USD/JPY. The downward impulsive decline may resume soon.

The growth within the correctional structure was harshly and abruptly cut off. Reaching the goal in the form of the maximum set earlier by wave A did not work out, and in the near future, it is unlikely to succeed. It is possible that the correctional structure has already completed its development, taking the form of either a simple or double zigzag.
Then the decline observed at the moment is the beginning of the development of the next downward impulsive phase, which will be represented by the third wave of the downward impulsive movement. In this case, the decline may be quite sharp and prolonged.
To enter sell deals, it is recommended to wait for the development of a corrective pullback, and until then, it is better to stay out of the market and observe the development of events from the outside.
Investment idea: flat.
Bob Stan
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