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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. | 31 October 2024

31 October 2024, USD/JPY

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

The unreached target at the 61.8% Fibonacci level continues to trouble buyers. They seem determined to get there first, and only then hand over the initiative to their opponents. The likelihood of such a scenario seems quite high.
The price will jump up sharply, quickly reaching the indicated level, after which the correction in the form of a plane will end and the vector of movement will change to the opposite. This will mark the beginning of the anticipated impulsive price drop, which, based on the current wave picture, has great potential.
Thus, it is still recommended to look for opportunities to enter into sell trades in the current situation.
Investment idea: sell 152.55, stop loss 152.80, take profit 140.00.
Bob Stan
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