As expected, buyers have not managed to regain control of the situation. After a sharp decline, which led to the renewal of the minimum established at the start of the year, the price began to rise, trying to quickly reverse the damage. However, after recovering more than half of the decline, buyers’ enthusiasm faded, and the price began to slide again. This price movement is likely caused by the extension of the third wave of the downward impulse. In this case, we may soon see a prolonged impulsive decline towards the 150 yen per dollar mark. This presents a good opportunity to profit from this move.
Investment idea: sell at 154.60, stop loss at 154.85, take profit at 150.00.
Origin: FreshForex
