USD/JPY. The development of the third descending impulse wave continues. | 22 December 2023

22 December 2023, USD/JPY

USD/JPY. The development of the third descending impulse wave continues.

The situation with the analyzed pair is unfolding within the framework of the previously proposed wave scenario. The price is gradually decreasing within the presumed wave (iii). Currently, it is approaching the lows from which the price has rebounded twice. Most likely, the price will react to this level again, and there will be a slight bounce before a breakthrough occurs, and the price continues downward.
In connection with this, it is recommended to wait for this rebound to happen and actively start selling on the next decline. Until that moment, previously opened sell positions can be kept active, but opening new ones is not recommended.
Investment idea: Sell at 141.30, Stop Loss at 141.65, Take Profit at 137.50.

Bob Stan
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