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USD/JPY. Growth within the correction, is likely to continue.

USD/JPY. Growth within the correction, is likely to continue. | 03 October 2024

03 October 2024, USD/JPY

USD/JPY. Growth within the correction, is likely to continue.

The assumption about the formation of a correction within a certain price range turned out to be wrong. The dollar managed to sharply activate and strengthen its positions quite well. True, the price remained within the current large correctional structure.
Perhaps this correction still takes the form of a double zigzag. The growth observed at the moment is wave Y, and it seems that an upward impulse is being formed within it, which is part of the internal simple zigzag.
In this case, the price will continue to rise in the near future, striving to reach the level of the local maximum set by wave W. After that, a renewal of the impulsive decline in the price is expected.
Investment idea: buy 147.25, stop loss 147.00, take profit 148.50.
Bob Stan
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