The pair is still likely to grow

Supposedly, the formation of the fifth wave v within the third wave of a long-term bullish impetus is going on. Apparently, a local correction in a form of fourth wave (iv) has finished and the fifth wave (v) has started to form. If this assumption is correct and the price does not break the critical level 119.32, the pair will continue to rise to the levels 122.80-124.00.

Trading tips

Buy the pair from corrections above the level of 119.32 with targets at 122.80-124.00.

Alternative scenario:

Breakdown and consolidation below the level of 119.320 will allow the pair to continue declining to a level of 118.20.

USD/JPY: Wave analysis

USD/JPY: Wave analysis

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