Correction continues

The pair continues to fall and the wave level of the current correction should be raised. Apparently, a bullish impetus in the third wave 3 has finished on the daily time-frame by now. The fourth wave 4 is forming locally. If this assumption is correct and the price does not break the critical level 121.96, the pair will continue to decline to a level of 116.80.

Trading tips

Sell the pair from correction below a level of 121.96 with a target at 116.80.

Alternative scenario:

Breakdown and consolidation below the level of 121.96 will allow the pair to continue rising to a level of 124.00.

USD/JPY: Wave analysis

USD/JPY: Wave analysis

USD/JPY: Wave analysis




The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.



!-- Go to www.addthis.com/dashboard to customize your tools -->