The uptrend continues.

Supposedly, a bullish impetus within the fifth wave continues to form. Apparently, an extension in the third wave (iii) of 5 is developing locally. If the presumption is correct, the pair will continue to grow to the levels 125.60–127.00. The level of 123.70 is critical in this scenario as the breakout will enable the pair to continue declining to the levels 122.00–120.00

Trading tips

Buy the pair from corrections above the level of 123.70 with targets at 125.60–127.00.

Alternative scenario

Breakout and consolidation below the level of 123.70 will allow the pair to continue declining to the levels 122.00–120.00.

USD/JPY: wave analysis

USD/JPY: wave analysis

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