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USD/JPY: Price Continues to Form the Final Wave of the Ending Diagonal Triangle.

USD/JPY: Price Continues to Form the Final Wave of the Ending Diagonal Triangle. | 13 June 2024

13 June 2024, USD/JPY

USD/JPY: Price Continues to Form the Final Wave of the Ending Diagonal Triangle.

The price continues to trade within a channel that likely represents an ending diagonal triangle. During yesterday's trading session, there was a sharp weakening of the dollar, but the Japanese yen could not capitalize on the opportunity, as the sharp drop was quickly bought up.
Now, the price is aiming for the upper boundary of the channel, which suggests we can expect a calm but unproductive rise. It is not recommended to attempt trading in this situation. It is essential to wait for the completion of the entire model formation and then consider selling.
Investment Idea: Flat.
Bob Stan
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