The pair USD/JPY is likely to fall in price. Estimated pivot point is at a level of 114.22.

Main scenario: short positions will be relevant from corrections below the level of 114.22 with a target of 110.65 – 109.50.

Alternative scenario:breakout and consolidation above the level of 114.22 will allow the pair to continue rising to a level of 115.50.

Analysis: Supposedly, the wave of senior level (C) of B continues developing on the daily time frame, with the wave 1 of (C) formed inside. Presumably a local correction is forming as the wave 2 of (C) on the 4-hour timeframe. On the H1 time frame, apparently the ascending correction of junior level finished developing in the form of wave b of 2.  If this assumption is correct, the pair will continue to drop to 110.65 – 109.50. The level  114.22 is critical in this scenario.

USD/JPY: волновой анализ и прогноз на 16.11.18 – 23.11.18

USD/JPY: волновой анализ и прогноз на 16.11.18 – 23.11.18

USD/JPY: волновой анализ и прогноз на 16.11.18 – 23.11.18

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Price chart of USDJPY in real time mode

USD/JPY: Wave analysis and forecast for 16/11/2018 – 23/11/2018

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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