USD/JPY. Possible Resumption of the Downtrend. | 09 Agosto 2024

09 Agosto 2024, USD/JPY

USD/JPY. Possible Resumption of the Downtrend.

As anticipated, the activity in the analyzed trading pair has started to decline. Price movements have become smaller, and no significant price levels have been updated. It is likely that a correction is forming, which is wave 4.
However, given the rapid development of the downward impulse, a prolonged pause in a sideways movement is unlikely. The price will probably start to fall actively again soon, forming the final wave 5 and completing the entire downward impulse.
Therefore, it is worth trying to sell at the current market levels. Additionally, the price is near the local maximum established by the corrective upward movement. There is a high probability that sellers will react at this level again.
Investment Idea: Sell at 147.20, stop loss at 147.50, take profit at 144.40.
Bob Stan
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.