USD/JPY. Anticipated bearish movement persists. | 12 December 2024
12 December 2024, USD/JPY
Buyers showed some enthusiasm, driving the price higher, but this rally is perceived as part of the ongoing correction, specifically a zigzag. With this structure almost fully developed, the market is primed for a reversal and a continuation of the downward impulse movement.
With the zigzag formation nearing completion, a bearish reversal is expected shortly, followed by a strong downward move in the third impulse wave. Traders should closely monitor the market for signs of a sell signal, which could offer profitable opportunities.
Investment idea: sell 152.00, stop loss 152.25, take profit 140.00.
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.
