USD/JPY. Expectations for a corrective price increase remain. | 04 December 2024
04 December 2024, USD/JPY
Contrary to expectations of the beginning of a corrective rise, the price continued to move down. The assumption about the completion of the downward impulse turned out to be incorrect. However, the considered impulse is still close to its completion. This may happen as early as the next trading day.
If this really happens, we can expect a fairly good corrective rebound in the future. Presumably, the movement will be formed in the form of a simple zigzag. But even this will be enough to conclude short-term buy trades.
Thus, in the current situation, it is recommended to actively consider the possibility of opening buy positions.
Investment idea: buy 140.40, stop loss 149.15, take profit 151.50.
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.
