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USD/JPY. The beginning of an impulsive decline is expected.

USD/JPY. The beginning of an impulsive decline is expected. | 24 January 2024

24 January 2024, USD/JPY

USD/JPY. The beginning of an impulsive decline is expected.

The anticipated decline has not occurred yet. The price is making every effort to continue rising, but it seems that there is not enough strength for this. Ultimately, the pressure from the yen will lead to the expected impulsive decline.
This will mark the development of wave (iii) of the descending impulse. The potential for movement is quite interesting, so it's worth carefully considering the opportunity to sell.
A possible signal to enter the position could be a breakthrough of the local minimum passing through a single candle around 147.00.
Investment idea: Sell at 147.00, stop loss at 147.35, take profit at 144.00.

Bob Stan
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