USD/JPY. A weak corrective rise is expected. | 04 September 2024
04 September 2024, USD/JPY
The situation on the considered pair has not undergone any substantially important changes over the past period. Apparently, the development of the correction continues, which is presumably wave (2) in the emerging downward impulse. But one cannot rule out the option of forming a correction in the form of a zigzag, then the current correction will be wave b.
And while the development of this corrective structure is underway, it is unlikely that strong directional movements should be expected. Probably, the price will chaotically fluctuate from side to side, alternately misleading both buyers and sellers, and then, at the most unexpected moment, will form a sustained directional wave.
In the current situation, it is worth trying to carefully buy, since there is a high probability that the price will try to approach the local maximum set by wave a.
Investment idea: buy 145.10, stop loss 144.90, take profit 148.00.
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