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USD/JPY. Anticipated bearish movement persists.

USD/JPY. Anticipated bearish movement persists. | 12 December 2024

12 December 2024, USD/JPY

USD/JPY. Anticipated bearish movement persists.

Buyers showed some enthusiasm, driving the price higher, but this rally is perceived as part of the ongoing correction, specifically a zigzag. With this structure almost fully developed, the market is primed for a reversal and a continuation of the downward impulse movement.
With the zigzag formation nearing completion, a bearish reversal is expected shortly, followed by a strong downward move in the third impulse wave. Traders should closely monitor the market for signs of a sell signal, which could offer profitable opportunities.
Investment idea: sell 152.00, stop loss 152.25, take profit 140.00.
Bob Stan
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