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USD/JPY. Possible start of a strong impulsive decline.

USD/JPY. Possible start of a strong impulsive decline. | 08 October 2024

08 October 2024, USD/JPY

USD/JPY. Possible start of a strong impulsive decline.

Among the three considered trading instruments, the situation in USD/JPY at the moment is somewhat clearer than the others. During the past trading day, the price did not attempt to continue growing, which led to a slow descent.
Thus, the development of the correction, which took the form of a double zigzag, with a clear upward impulse as the final wave inside wave Y, has probably been completed. The observed decline may be the beginning of a sustained impulsive decline, so it is worth considering the possibility of entering sell deals in the near future.
Investment idea: sell 147.80, stop loss 148.15, take profit 143.50.
Bob Stan
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