USDJPY – Down
The fierce battle between the dollar and the yen, accompanied by sharply increased volatility, is gradually coming to an end. The Japanese currency is taking the initiative, beginning a bearish phase. It is likely that the formation of the terminal diagonal triangle is complete. Along with it, the development of the prolonged upward impulse has concluded.
In this case, we can expect a strong corrective movement in the future, which may lead the price to levels around 120.00. The situation looks quite attractive and promising for entering sell positions, so it is recommended to consider this opportunity. However, this is in the long term. For now, the targets are not as significant.
Investment idea: Sell at 152.90, stop loss at 153.10, take profit at 151.00.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
