USD/JPY. A final upward surge is possible. | 21 November 2024
21 November 2024, USD/JPY
The dollar is trying to strengthen on all fronts. Relative to the Japanese currency, there is also a slow upward movement, which was expected. Currently, the observed growth is very similar to the formation of a divergent final horizontal triangle, in which the final fifth wave is developing. Now, it is probably formed halfway.
Thus, an upward movement is expected in the near future. The target of this movement may be the upper forming of the assumed model, but it may also happen that as soon as the current local maximum is updated, a reversal will begin, and the price will rush down. This should also be taken into account and kept in mind when trading.
Investment idea: buy 155.70, stop loss 155.45, take profit 157.70.
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