The pair continues to decline.

The formation of the zigzag (a)(b)(c) continues in the wave а of 4. Locally, the wave (с) is being developed. Within which the wave iii of (c) seems to be formed. If this assumption is correct and the price does not break down the critical level 120.09, it makes sense to expect that the pair will continue to decline to 116.80.

Trading tips

Sell the pair from correction below the level of 120.09 with the target of 116.80.

Alternative scenario

Breakdown and consolidation of the price above the level of 120.09 will enable the price to continue growth up to 121.0 – 122.0.

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 -->