USD/JPY: The situation still gives sellers a chance to implement a bearish scenario. | 29 Enero 2025

A strong downward move has not yet occurred. On the contrary, the price has risen sharply, recovering much of the previous decline and is now in a holding pattern awaiting the new trading day. This development still fits into the previously considered scenario, where a downward impulsive decline is anticipated. It is quite possible that wave 3 is now in the process of extending. The first two waves of it have already formed, and it was the second wave that forced the price to rise sharply. Now the situation has stabilized, and sellers can once again start exerting active pressure on the price, which will eventually lead to a significant decline. Thus, expectations of a downward impulse, in which wave 3 is expected to develop, are still in place. For this reason, sell positions are currently considered the main trading decision. Investment idea: sell at 155.00, stop loss at 155.35, take profit at 148.70.