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USD/JPY. Possible beginning of a corrective upward movement.

USD/JPY. Possible beginning of a corrective upward movement. | 02 December 2024

02 December 2024, USD/JPY

USD/JPY. Possible beginning of a corrective upward movement.

The price remains under pressure from sellers, who once again managed to push the price even lower. Perhaps, during the past trading day, the formation of a downward impulse related to a small time frame was completed, which at a higher level is the first wave of a larger impulse. If this is indeed the case, the next trading week may start with attempts by the dollar to regain lost ground. In this case, the price will start to rise and form a correction wave, which by default is a zigzag. Thus, previously opened sell trades are recommended to start closing. Also, during the trading day, a buy signal may form, and this opportunity should also be considered. Until then, stay out of any trading positions. Investment idea: flat.

Bob Stan
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