USD/JPY. Price Continues to Consolidate. | 20 Juni 2024
20 Juni 2024, USD/JPY
Another trading day has ended without any significant events. The price continues to trade within a narrow range, showing no attempts to either rise or fall.
As a result, the previously considered wave scenario remains valid. A final burst of activity from buyers is expected, which will lead to the price reaching the upper boundary of the channel, within which the ending diagonal triangle is forming.
This is anticipated to conclude the long-lasting upward impulse cycle and initiate a bearish market phase.
While the price remains within the defined channel, it is advisable to refrain from taking any trading actions.
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