USD/JPY. Expectations for the development of the third wave of a downward impulse remain. | 05 February 2025
05 February 2025, USD/JPY
During the past trading day, there were no significant changes. The price spent the entire day within a certain range without making any attempts to either grow or fall below. Although it was expected that the Japanese yen would try to seize the moment and strengthen its position. The situation lends itself to this, since previously, presumably, a downward impulse formed, which then transitioned into a correction.
In this regard, a further implosive decline seems quite logical, but there have been some problems with this so far. Perhaps during the current week, things will get moving and the price will rush downwards to form the third wave of the downward impulse.
It is recommended to open sell positions in this situation upon updating the current local minimum.
Investment idea: Sell at 153.70, Stop Loss at 154.00, Take Profit at 150.00.
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.
