USDJPY – Down signal confirmed

02.02.2024

Having broken through the marked level, which is a signal for conclusion of deals on sale, the price tried to return back quickly, but this plan of buyers failed. In the end, the price was under the level, starting to consolidate at the updated values.

Thus, the probability of further impulsive decline is increasing. It is conditioned by the development of wave (iii) of the descending impulsive movement. In this regard, conclusion of deals on sale looks quite a promising trading decision.

It is possible to open short trades at current market values.

Recommendations: Sell 146.40, SL 146.75, TP 143.50.