The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 112.01.

Main scenario: long positions will be relevant above the level of 112.01 with a target of 113.22 – 113.80.

Alternative scenario: breakout and consolidation below the level of 112.01 will allow the pair to continue declining to the levels of 111.09 – 110.35.

Analysis: Supposedly, the wave (C) of B of senior level continues developing on the daily timeframe. On the 4-hour time frame, presumably a local correction finished forming in the form of wave 2 of (C), and the wave 3 of (C) started developing, with the wave i of 3 forming inside. Apparently, the third wave of junior level (iii) of i is developing on the H1 time frame. If this assumption is correct, the pair will continue to rise to 113.22 – 113.80. The level 112.01 is critical in this scenario.

USD/JPY: Wave analysis and forecast for 21/09/2018 – 28/09/2018

USD/JPY: Wave analysis and forecast for 21/09/2018 – 28/09/2018

USD/JPY: Wave analysis and forecast for 21/09/2018 – 28/09/2018


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Price chart of USDJPY in real time mode

USD/JPY: Wave analysis and forecast for 21/09/2018 – 28/09/2018

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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