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USD/JPY. The likelihood of an impulsive decline in price remains high.

USD/JPY. The likelihood of an impulsive decline in price remains high. | 09 October 2024

09 October 2024, USD/JPY

USD/JPY. The likelihood of an impulsive decline in price remains high.

The previously established wave picture during the past trading day barely underwent any changes. The weak attempt to start moving down looks unconvincing, there is a return to the previously established maximum. However, this lethargic rebound may turn out to be a correction on smaller time frames. Then sellers, applying more effort, may push the price down, gaining a certain speed sufficient for forming an impulse.
The potentially downward movement looks very promising, as an exit from the previously formed correctional structure is expected.
In this case, it is still worth considering the possibility of concluding sell deals at current market values with a target, at least, at the current minimum set by wave X.
Investment idea: sell 148.10, stop loss 148.40, take profit 139.60.
Bob Stan
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