The impulsive decline will continue. | 04 Diciembre 2023
04 Diciembre 2023, USD/JPY
The situation with the considered currency pair continues to unfold within the framework of the anticipated scenario. It is worth reminding that the formation of a relatively prolonged upward correction, taking the form of a triple zigzag, likely concluded at the highs of the past year.
Currently, the decline is attempting to take the form of an impulse, but at the moment, only waves 1 and 2 can be identified. Wave 3 is likely to stretch, and within it, a complete descending impulse of a smaller degree can also be observed.
Thus, in the near future, we are likely to witness the continuation of the pair's decline, which will have an impulsive nature.
Investment idea: Sell at 146.50, set a stop loss at 146.85, and take profit at 144.00.
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.
