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USD/JPY. Another attempt at a turnaround is expected.

USD/JPY. Another attempt at a turnaround is expected. | 22 October 2024

22 October 2024, USD/JPY

USD/JPY. Another attempt at a turnaround is expected.

The assumption about the development of a final diagonal triangle in wave 5 of the impulse, included in the correction, seems to have been mistaken. More likely, the movement within the ascending channel is a correction representing a horizontal triangle. This is indicated by the subsequent exit of the price beyond the specified channel.
It is possible that only during this movement was the correctional model finally formed, which represents a double zigzag. In this case, in the near future we may see the beginning of the long-awaited impulsive decline, so again it is recommended to try opening sell deals at current market price values.
Investment idea: sell 150.60, stop loss 150.85, take profit 146.00.
Bob Stan
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