USD/JPY. Continued development of the ending diagonal triangle. | 14 January 2025
14 January 2025, USD/JPY
There have still been no significant changes in the trading pair under consideration. The price continues to trade within a narrow price range, strictly adhering to its boundaries. At the moment, it is located in the lower part of the ascending channel. Likely, in the near future, we will see a surge toward the opposite side.
Thus, presumably, the formation of the ending diagonal triangle, developing as Wave 5 of c of a large bullish zigzag, will be completed. Following this, a reversal with strong impulsive decline is expected.
Therefore, it is recommended to wait for the reversal and start opening sell transactions when a good signal appears. Until then, one can either cautiously buy in the final wave of the mentioned diagonal or simply observe the unfolding events from the sidelines.
Investment idea: Flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
