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USD/JPY. Expectations of a correctional increase remain.

USD/JPY. Expectations of a correctional increase remain. | 10 September 2024

10 September 2024, USD/JPY

USD/JPY. Expectations of a correctional increase remain.

The probability that the price would immediately overcome the level set earlier by wave 5 was very low, and eventually sellers really couldn’t push the price lower. Now there is a weak rebound observed, which could later become stronger.
Presumably, now the next wave of the forming correctional structure is being developed. So far, the potential growth is considered as wave C in a flat. The specified wave in this model is impulsive, meaning we can expect a good upward movement to the maximum set by wave A.
Thus, concluding purchase transactions looks like a sufficiently promising trading decision.
Investment idea: buy 143.35, stop loss 143.00, take profit 148.50.
Bob Stan
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