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USD/JPY. The expectation of an impulsive decline in the pair remains.

USD/JPY. The expectation of an impulsive decline in the pair remains. | 02 October 2024

02 October 2024, USD/JPY

USD/JPY. The expectation of an impulsive decline in the pair remains.

Yesterday's activity on European currencies did not affect the considered trading pair. The price traded the whole day at the same values, confirming the previously considered wave scenario.
The correction observed at the moment is likely part of the emerging downward impulsive movement. Trading at the current levels will continue in the near future, after which the price will go down again. The decline may be quite strong and prolonged. This is caused by the development of the third impulsive wave.
Thus, a bearish scenario is considered in this trading pair, accordingly signals for sale will be searched for.
Since there are none yet, it is recommended to follow the situation from the outside.
Investment idea: flat.
Bob Stan
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