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USD/JPY. The beginning of the development of the final wave of the final diagonal triangle.

USD/JPY. The beginning of the development of the final wave of the final diagonal triangle. | 20 November 2024

20 November 2024, USD/JPY

During the past trading day, there were no significant changes in this pair. The price attempted to move sharply down, but was stopped in time by vigilant buyers. As a result, the dollar exchange rate against the yen began to rise again. Apparently, the price is still aimed at updating the current local maximum. This is due to the development of the final wave in the final diagonal triangle.
Thus, if this assumption is correct, we will soon see a continuation of the upward movement, during which the current local maximum will be updated. The goal of this wave probably lies on the upper forming model.
Investment idea: buy 154.75, stop loss 154.50, take profit 157.65.
Bob Stan
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