USD/JPY. Sell Signal Confirmed. | 02 February 2024
02 February 2024, USD/JPY
After breaking the designated level, which serves as a signal to initiate selling positions, the price attempted to quickly reverse back, but this plan by buyers failed. Eventually, the price remained below the level, starting to consolidate at new values.
Consequently, the probability of further downward impulse movement increases. This is due to the development of wave (iii) of the descending impulse movement. In this regard, entering into selling positions appears to be a quite promising trading decision.
Short positions can be opened at current market values.
Investment idea: Sell at 146.40, stop loss at 146.75, take profit at 143.50.
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