The pair USD/JPY is still likely to fall. Estimated pivot point is at a level of 112.19.

Main scenario: short positions will be relevant from corrections below the level of 112.19 with a target of 109.50 – 108.33.

Alternative scenario: breakout and consolidation above the level of 112.19 will allow the pair to continue rising to a level of 113.66.

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. Apparently, the wave c of 2 is developing on the H1 time frame, with the third wave of junior level (iii) of c forming inside. If the presumption is correct, the pair will continue to drop to the levels 109.50 – 108.33. The level 112.19 is critical in this scenario.

USD/JPY: Wave analysis and forecast for 28/12/2018 – 04/01/2019

USD/JPY: Wave analysis and forecast for 28/12/2018 – 04/01/20199

USD/JPY: Wave analysis and forecast for 28/12/2018 – 04/01/2019

P.S. Did you like my article? Share it in social networks: it will be the best “thank you" :)

Ask me questions and comment below. I’ll be glad to answer your questions and give necessary explanations.

Useful links:

  • I recommend trying to trade with a reliable broker here. The system allows you to trade by yourself or copy successful traders from all across the globe.
  • Telegram channel with high-quality analytics, Forex reviews, training articles, and other useful things for traders

Price chart of USDJPY in real time mode

USD/JPY: Wave analysis and forecast for 28/12/2018 – 04/01/2019

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.

Need to ask the author a question? Please, use the Comments section below. .
Start Trading
Follow us in social networks!
Live Chat
Leave feedback