USD/JPY. The price is preparing for a sharp impulsive decline. | 17 October 2024
17 October 2024, USD/JPY
The course of the considered trading pair remained near the local maximum. However, the boundaries of the supposed final diagonal triangle are beginning to strain the price, so she is thinking about how to get out of it sooner.
A slight rebound from the lower limit is likely a trap. This is done to gather momentum and break through the model precisely in its lower part. In this case, a sufficiently active and prolonged downward movement, which will be impulsive in nature, will begin.
Thus, the situation continues to retain unrealized bearish potential, so it is recommended to consider the scenario with the conclusion of sell deals as the main one.
Investment idea: sell 148.90, stop loss 149.25, take profit 140.00.
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.
