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USD/JPY. A downward impulsive movement is expected.

USD/JPY. A downward impulsive movement is expected. | 11 October 2024

11 October 2024, USD/JPY

USD/JPY. A downward impulsive movement is expected.

The price, as expected, tried to continue growing, but as soon as the local maximum was updated, sellers activated again, stopping the movement and pushing the price away from this extremum. But the rebound looks insignificant. More likely, this is just the beginning, and soon we will see a more interesting downward movement.
Overall, the situation suggests a decline to the minimum set by wave X, with a subsequent breakout and a more substantial advance downward. This is due to the formation of either the third wave of a downward impulse or a correction taking the form of a simple zigzag.
Everything will become clear over time, and for now, it's worth trying to sell at current prices.
Investment idea: sell 148.70, stop loss 149.00, take profit 140.00.
Bob Stan
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