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It appears that the price of USD/JPY is preparing to continue rising.

It appears that the price of USD/JPY is preparing to continue rising. | 06 February 2024

06 February 2024, USD/JPY

It appears that the price of USD/JPY is preparing to continue rising.

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.

Bob Stan
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