USD/JPY. Price Ready to Continue Rising Further. | 22 April 2024
22 April 2024, USD/JPY
The situation with the USD/JPY pair remains consistently positive for buyers. The dollar maintains full control and shows no signs of relinquishing its dominance. The upward movement is part of the final wave 5 of the v wave within an expanding ending diagonal triangle. This type of pattern favors longer fifth waves, which tend to be the most extended.
Therefore, as long as the price targets have not been reached, it will continue to strive towards the upper boundary of the ending diagonal triangle. Existing buy positions can be maintained, with stop-loss orders adjusted to protect current profits by moving them closer to the current market price.
Additionally, cautiously adding to long positions could be considered.
Investment Idea: Buy at 154.80, Stop Loss at 154.55, Take Profit at 158.00.
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