USD/JPY. The price continues to decline. | 28 Noviembre 2024
28 Noviembre 2024, USD/JPY
The situation for this pair also continues to develop within the previously considered wave scenario. It is worth recalling that the formation of a large correction in the form of a zigzag probably ended, where wave C received a final diagonal triangle as the fifth wave. This model is a strong signal for a reversal, which presumably occurred. The price moved down and broke through the lower forming of this diagonal triangle, signaling a trend change and the possibility to enter sell deals.
However, the situation is unlikely to be exhausted. After a slight correction, a further downward impulse movement is expected, so it is worth keeping the previously opened sell deals in operation and trying to open additional ones if possible.
Investment idea: sell 150.40, stop loss 150.65, take profit 147.50.
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.
