USDJPY – Down
The dollar is strengthening its push, and the Japanese yen is gradually losing its ability to restrain it. As a result, the price is slowly accelerating and gaining height. Eventually, the dollar might surge sharply, setting new highs with each move.
In this scenario, the idea of a terminal diagonal triangle in wave (5) is invalidated. Instead, the movement represents a full impulse with an extension in the third wave. It seems that this extension is currently unfolding.
Therefore, it’s advisable to consider entering buy positions at the current market levels.
Investment Idea: Buy 161.30, stop loss 161.00, take profit 163.50.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
