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


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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.

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