USD/JPY. Possible start of a strong impulsive decline. | 08 October 2024
08 October 2024, USD/JPY
Among the three considered trading instruments, the situation in USD/JPY at the moment is somewhat clearer than the others. During the past trading day, the price did not attempt to continue growing, which led to a slow descent.
Thus, the development of the correction, which took the form of a double zigzag, with a clear upward impulse as the final wave inside wave Y, has probably been completed. The observed decline may be the beginning of a sustained impulsive decline, so it is worth considering the possibility of entering sell deals in the near future.
Investment idea: sell 147.80, stop loss 148.15, take profit 143.50.
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.
