USDJPY – Price Expected to Continue Rising

19.04.2024

The bullish trend remains intact. The price continues to work on developing the final wave 5 of v, an ascending impulsive movement. There is a high probability that buyers are targeting the upper boundary of the assumed ending diagonal triangle. Given that this pattern represents an expanding form, the movement in wave 5 could be quite prolonged.

As a result, buying retains good profit potential. In the current situation, it is also possible to try buying at the renewal of the local maximum.

Recommendations: Buy at 154.70, SL at 154.50, TP at 158.00.