USD/JPY. The yen is expected to resume its decline against the dollar.
USD/JPY. The yen is expected to resume its decline against the dollar. | 13 March 2024
13 March 2024, USD/JPY
The dollar took advantage of the yen's hesitation and managed to slightly recover its lost positions. However, the observed increase appears to be the fourth wave in the forming downward impulse. Therefore, a resumption of the pair's decline is expected in the near future. This will lead to the renewal of the current local minimum and the completion of the entire impulse structure.
One can consider taking advantage of the current situation. It is recommended to open sell positions at the current market values. Profit should be taken upon the renewal of the current local minimum. The expected price movement trajectory is indicated on the chart provided.
Investment idea: Sell at 147.60, stop loss at 147.90, take profit at 146.10.
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