Over the past trading day, there was little change in the USD/JPY pair. The price stayed within a small correctional range, which is likely the second wave of an emerging downward impulse.
At the moment, this wave does not seem to be complete, so we may not witness any directional movement soon. Instead, the price is expected to continue oscillating within a defined range, as depicted on the attached chart.
A strong impulse to the downside is anticipated, culminating in the formation of Wave 3. A breakout below the Wave 1 minimum may serve as a trigger for sell positions.
Investment idea: Sell 154.75, Stop Loss 155.00, Take Profit 150.00.
Origin: FreshForex
