The yen’s position at the start of the current trading week was quite advantageous for an attack. However, the sellers failed to apply strong pressure, and instead of a quick and sharp decline, we witnessed sluggish movement.
Nevertheless, sellers deserve credit for completing the formation of the impulse wave. Going forward, the price may start rising to form a corrective wave, so profits from previously opened sell positions can now be locked in.
There are no signals for buys yet, so entering new positions is not recommended at this time. Stay on the sidelines and observe the evolving situation.
Investment idea: Flat.
Origin: FreshForex
