USD/JPY. Further impulsive price decline is expected. | 28 Januari 2025
28 Januari 2025, USD/JPY
The trading week for this pair began with confirmation of the previously considered scenario. The price started moving down, likely beginning the formation of wave 3 of the downward impulse. If this is indeed the case, we can expect further price declines.
Since the price has not moved significantly down yet, merely updating the local low, there is still a good opportunity to enter the expected movement at favorable prices. Targets for this downward movement lie at the 148.50 level, but this is just an intermediate level. Globally, the price could update the low of last year, which is at the 139.60 level.
Therefore, entering sell positions looks like a promising trading decision, so it is recommended to consider this opportunity.
Investment idea: sell at 154.00, stop loss at 154.30, take profit at 148.60.
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.
