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USD/JPY. Expectations for the start of an impulsive decline remain.

USD/JPY. Expectations for the start of an impulsive decline remain. | 30 October 2024

30 October 2024, USD/JPY

USD/JPY. Expectations for the start of an impulsive decline remain.

The 61.8% level continues to bother the price. After an unsuccessful attempt to start a decline, it once again returned to the previously established local maximum. On lower timeframes, a double top has formed, which serves as a signal for a reversal and a strong move in the opposite direction.
The situation also suggests a high likelihood of the onset of an impulsing decline. It is believed that the formation of a correction, taking the shape of a plane, has been completed, where waves a and b consist of three waves, and wave c is an impulse. All this has already been formed, and the next logical step is the beginning of an impulsionary decline.
Thus, expectations and recommendations to open sell positions remain relevant.
Investment idea: sell 153.10, stop loss 153.35, take profit 140.00.
Bob Stan
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