USD/JPY. Awaiting the completion of the current correction. | 25 October 2024
25 October 2024, USD/JPY
The expectation that the price will continue falling due to the ongoing correction in the form of the double zigzag is now doubtful. The recent rally indicates that the bearish pressure is easing, and the price has not reached the target level of 91.4% according to the Fibonnacci Retracement. Thus, there remains a chance for a further rise, completing the correction.
Considering the current situation, it would be prudent to refrain from hasty trading decisions and observe whether the price manages to achieve the intended goal. If the price does not rise significantly, it may indicate that the correction is still ongoing.
Investment idea: Flat.
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.
