The pair USD/JPY is likely to grow. Estimated pivot point is at a level of 104.46.

Main scenario: long positions will be relevant above the level of 104.46 with a target of 113.66 – 114.50.

Alternative scenario: breakout and consolidation below the level of 104.46 will allow the pair to continue declining to a level of 103.00.

Analysis: Supposedly, the wave of senior level (C) of B continues developing on the daily time frame, with the wave 2 of (C) formed inside. Presumably a local correction is completed as the wave 2 of (C) on the 4-hour timeframe. Apparently, the wave 3 of (C) starts forming on the H1 time-frame, with the first wave of junior level (i) of i of 3 formed and the correction (ii) of i completed inside. If the presumption is correct, the pair will continue to rise to the levels of 113.66 – 114.50. The level 104.46 is critical in this scenario.

USD/JPY: Wave analysis and forecast for 11/01/2019 – 18/01/2019

USD/JPY: Wave analysis and forecast for 11/01/2019 – 18/01/2019

USD/JPY: Wave analysis and forecast for 11/01/2019 – 18/01/2019


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Price chart of USDJPY in real time mode

USD/JPY: Wave analysis and forecast for 11/01/2019 – 18/01/2019

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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