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USD/JPY. The Beginning of an Impulsive Decline.

USD/JPY. The Beginning of an Impulsive Decline. | 19 Julio 2024

19 Julio 2024, USD/JPY

USD/JPY. The Beginning of an Impulsive Decline.

During the last trading day, the formation of a descending impulsive wave in the USD/JPY pair likely concluded. This might be just the beginning of a significant and prolonged bearish movement. In the near term, we can expect a corrective pullback, which may take the form of a simple zigzag.
This presents a very good opportunity for entering sell trades with substantial potential. Sell trades can be opened when the price reaches the maximum of wave 4 of the previously formed descending impulse or when breaking the minimum established by wave 5. The first scenario offers much higher potential returns.
Investment idea: sell 158.50, stop loss 158.80, take profit 151.75.
Bob Stan
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