USDJPY – Buyers May Start to Slow Down

26.04.2024

The price predictably continues to move upwards. The dollar confidently controls the situation, strengthening against the Japanese currency. However, this cannot go on indefinitely, and moreover, the current wave is presumably the final one in the forming ending diagonal triangle.

Nevertheless, there is still some room for further upward movement. Also, before continuing the movement, some correction is possible, approximately as schematically indicated in the screenshot above.

In light of this, it is recommended to keep previously opened buy positions active, while maximally securing current profits by moving the protective stop loss order as close as possible to the current market price value.

It is not recommended to open new positions at this time.

Recommendations: Flat.