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USD/JPY. Buyers May Begin to Slow Down.

USD/JPY. Buyers May Begin to Slow Down. | 26 April 2024

26 April 2024, USD/JPY

USD/JPY. Buyers May Begin to Slow Down.

As expected, the price continues its upward movement. The dollar confidently controls the situation, strengthening against the Japanese currency. However, this cannot continue indefinitely, and moreover, the current wave is presumed to be the final one in the forming ending diagonal triangle.
Nevertheless, there is still some room for further upward movement. Additionally, before the continuation of the movement, a correction is possible, approximately as schematically indicated in the screenshot above.
In this regard, it is recommended to keep previously opened long positions, while maximizing the protection of current profits by adjusting the protective stop-loss order as close as possible to the current market price.
Opening new positions is not recommended at the moment.
Investment Idea: Flat.
Bob Stan
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