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USD/JPY. The Situation Remains Unchanged.

USD/JPY. The Situation Remains Unchanged. | 26 February 2024

26 February 2024, USD/JPY

USD/JPY. The Situation Remains Unchanged.

The situation with the USD/JPY pair remains unchanged, with no significant changes observed. The price continues to fluctuate within a narrow range, showing no activity to break out of its boundaries. As long as it remains in this sideways trend, trading this instrument is not recommended. The previously mentioned bearish scenario is confirmed, whereby the upward correction in the form of a double zigzag has completed, and currently, the price is preparing for an impulsive downward movement within wave (iii). A breakthrough of the indicated support level may serve as a signal to open sell positions.
Investment idea: Sell at 149.45, set a stop loss at 149.80, and take profit target at 145.00.
Bob Stan
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