It appears that the price of USD/JPY is preparing to continue rising. | 06 Februari 2024
06 Februari 2024, USD/JPY
Over the past trading day, there have been no significant changes in the analyzed pair. The price has set a new local maximum and has started to gradually consolidate at these levels. It is expected that this consolidation may continue for some time before the price resumes its upward movement.
Currently, it is assumed that this movement will form within the framework of the second zigzag in a double zigzag pattern. However, if the price surpasses the indicated maximum, the wave analysis will need to be reconsidered.
In the current situation, it is worth considering the possibility of entering long positions at the current market values.
Investment idea: Buy at 148.45, stop loss at 14815, take profit at 150.00.
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.
