USD/JPY. The dollar still intends to attempt to update current highs. | 22 March 2024
22 March 2024, USD/JPY
Despite the recent pullback, the dollar is still determined to challenge the important highs. The earlier retracement may just be a precursor to breaking through this resistance level. In that case, the previously considered scenario of the continuation of wave 5 of v in the final diagonal triangle may be chosen as the primary scenario.
The price is expected to rise significantly in this scenario, so it's worth preparing for potential purchases. However, it's not advisable to rush into these trades just yet. Given the recent market volatility, there could be another unpleasant surprise in store. It's better to wait for a lull and for the right moment to engage in active trading.
Investment idea: Flat.
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.
