USD/JPY. The Impulsive Decline is Coming to an End. | 01 8月 2024

01 8月 2024, USD/JPY

USD/JPY. The Impulsive Decline is Coming to an End.

The expectations of further price decline were fully met. The dollar significantly weakened against the yen, making wave 3 the shortest among the leading waves, which is unusual. For this reason, the current wave can be considered part of an extension in wave 3. In this case, the price has potential for further decline.
The possible trajectory of the movement is schematically indicated on the provided chart. Based on this, it can be assumed that a corrective pullback or consolidation phase will soon begin, followed by another less significant minimum update, leading to the completion of the extension in wave 3.
After this, another corrective phase will follow, forming wave 4.
Therefore, previously opened short positions can be gradually closed. It's not advisable to open long positions in anticipation of a corrective pullback yet, as buyers have not shown strength and the price may continue to decline.
Investment idea: flat.
Bob Stan
同意该评论吗?
交易员的评论:
Close
授权
您浏览器禁用cookie 文件. 在此情况下, 私人空间显示不正常. 如何启动cookie 文件的支持.