The pair is expected to decline.

Supposedly, a bullish impetus within the fifth wave has finished forming. Apparently, a reversal has formed and a counter-trend sentiment in the first wave of junior level (i) is developing locally. If this assumption is correct and the price does not break through the critical level of 125.87, the pair will continue to drop to the levels of 119.00–118.00.

Trading tips

Sell the pair from corrections below the level of 125.87 with a target of 119.00–118.00.

Alternative scenario

Breakthrough and consolidation above the level of 125.87 will allow the pair to continue rising up to the levels of 126.00–126.50.

USD/JPY: wave analysis

USD/JPY: wave analysis




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