USD/JPY. Expectations of a price decrease remain. | 18 October 2024
18 October 2024, USD/JPY
Despite expectations of active actions from sellers, the price continued to move within a certain narrow range, updating the local maximum once again.
So far, all this uptrend continues to look like part of a correctional structure, namely a double zigzag. For this reason, expectations overall remain the same. The development of a downward impulsive movement would be quite appropriate. Moreover, its potential is significant, with targets lying much lower than the current local minimum.
However, the entire proposed scenario may turn out to be incorrect, and only time will show what the price had in mind.
For now, it remains to wait for a breakout of the lower limit of the supposed final diagonal triangle and try to open sell deals again.
Investment idea: sell 148.80, stop loss 149.10, 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.
