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USD/JPY. Growth in the final wave of the final diagonal triangle.

USD/JPY. Growth in the final wave of the final diagonal triangle. | 19 November 2024

19 November 2024, USD/JPY

USD/JPY. Growth in the final wave of the final diagonal triangle.

The situation for this pair fully agrees with what we see in EUR/USD and GBP/USD, where the development of final bearish waves is expected, followed by a reversal. Here, on the contrary, there is a high probability of growth in the last fifth wave of the final diagonal triangle, which is part of wave c in the supposed zigzag.
The boundaries of this model are marked on the chart, and now is a very good point to start the development of the final bullish wave, which will end with an update of the current local maximum.
Based on this, it is possible to consider the possibility of entering buy transactions at current market values.
Investment idea: buy 154.15, stop loss 153.90, take profit 157.00.
Bob Stan
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