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USD/JPY. Time for sales approaching.

USD/JPY. Time for sales approaching. | 29 October 2024

29 October 2024, USD/JPY

USD/JPY. Time for sales approaching.

The assumption that the price would make one more attempt to rise and update the local maximum was fully confirmed. The value of the dollar against the yen did increase, but fell just short of the target level of 61.8% according to the Fibonacci grid. Buyers might still try to reach this level, so it's best not to rush into making a decision to sell just yet.
The coming days are likely to be crucial in determining the further scenario for developments. It is expected that the price, with a high degree of probability, will head downwards to storm the previous lows set by waves 5 and b, so you should be prepared to enter into sell deals.
Investment idea: sell 151.30, stop loss 151.55, take profit 140.00.
Bob Stan
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