USD/JPY. The price is ready for an impulse decline. | 31 January 2025

Sellers managed to completely reverse the earlier sharp price jump, which confirms the previously made assumptions regarding further impulse declines. Now, the buyers seem to be broken, and this is an opportunity for the Japanese yen to improve its position by strengthening slightly. It’s possible that today we’ll see a good directional downward move due to the extension in wave 3. The previously set targets are still valid and potentially interesting enough to try to participate in this move. It’s advisable to open sell trades upon the update of the current local minimum. Investment idea: Sell at 153.65, stop loss at 153.90, take profit at 149.00.