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USD/JPY: Initiative Remains with the Bears.

USD/JPY: Initiative Remains with the Bears. | 06 June 2024

06 June 2024, USD/JPY

USD/JPY: Initiative Remains with the Bears.

No significant changes occurred during the past trading day. The price increased slightly, but this movement is considered part of a nascent correction within the emerging bearish impulse.
Throughout today's trading session, we are likely to see price action within a certain range. The most probable scenario is that the price will form a zigzag pattern, after which it will start an impulsive decline.
In this situation, it is advisable to open sell positions upon breaking the current local minimum. The movement targets remain quite large.
Investment Idea: Sell at 154.40, stop loss at 154.70, take profit at 146.00.

Bob Stan
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