USD/JPY. The dollar will make another attempt to rise. | 22 November 2024
22 November 2024, USD/JPY
While the dollar is successfully strengthening against the pound and euro, some problems have arisen with the yen. Having started to grow confidently and clearly aiming to update the current local maximum, the price suddenly stalled and allowed sellers to push it back to the lower forming line of the assumed final diagonal triangle. This may be the result of an internal correction in the final fifth wave of this model. Then, in the near future, we will see growth again and an attempt to update the current local maximum.
The potential for movement within the development of this wave allows us to try entering buy transactions, so it is recommended to consider this situation for trading.
Investment idea: buy 154.50, stop loss 154.20, take profit 157.00.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
