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USD/JPY. The corrective uptrend is over. The price is ready to fall.

USD/JPY. The corrective uptrend is over. The price is ready to fall. | 15 October 2024

15 October 2024, USD/JPY

USD/JPY. The corrective uptrend is over. The price is ready to fall.

The price stubbornly refuses to start an impulsive decline. Instead, all efforts are focused on holding the course near the previously established local maximum. It should also be noted that the latest steps are quite difficult for buyers. On the chart, you can note the formation of a pattern very similar to a final diagonal triangle.
This is a sign of a reversal and a good movement in the opposite direction from the formed model. In our case, this is a decline. A possible signal for entering sell deals in this situation may be a breakout of the lower limit marked on the graph by a red trend line.
Investment idea: sell 149.20, stop loss 149.50, take profit 139.80.
Bob Stan
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