USDJPY – Last chance for buyers?

13.09.2024

The situation with the pair is starting to deviate from the expected path. After making a deceptive move by first dropping below the low and then quickly rising back up, the price indicated it was ready to grow. However, instead, it headed back down towards the previously established low.

Perhaps this is another clever plan by buyers, and the price will eventually start rising and reach the target near the high established by the presumed wave A.

In this scenario, it might be worth trying to buy again, placing a protective stop loss at the previously formed low. The risk-to-reward ratio is significantly in favor of potential profit.

Recommendations: Buy at 141.15, SL at 140.90, TP at 148.00.