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USD/JPY. Correction development is nearing completion.

USD/JPY. Correction development is nearing completion. | 10 December 2024

10 December 2024, USD/JPY

USD/JPY. Correction development is nearing completion.

Volatility in this pair is diminished, likely due to the development of a correction within the context of a forming downward impulse. At present, this correction is likely taking the form of a simple zigzag. The final upward wave is nearly complete, but its full formation may take some time.
Nevertheless, rushing into trading decisions is not advised. Previously opened long positions should be maintained and closed at levels of 151.50–151.70.
Subsequently, it will be prudent to watch for a sell signal.
Investment idea: flat.
Bob Stan
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