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USD/JPY. The probability of a corrective rise remains high.

USD/JPY. The probability of a corrective rise remains high. | 18 December 2023

18 December 2023, USD/JPY

USD/JPY. The probability of a corrective rise remains high.

During the past trading day, nothing significantly important or interesting occurred with the considered currency pair. The price spent the entire final trading day of the week within a certain price range, making no efforts to either rise or fall.
In this regard, the previously considered labeling scenario remains relevant. In the near future, an increase is expected, driven by the continuation of the formation of the corrective wave (ii).
It's challenging to predict the strength of the movement, but it's worth trying to buy. However, it should be understood that there may not be a prolonged directional movement, so it is necessary to close these open positions at the earliest opportunity.
Investment idea: Buy at 142.25, stop loss at 142.00, take profit at 145.00.

Bob Stan
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