The pair is expected to decline.

A bullish impetus within a fifth wave has finished forming. Apparently, locally has formed a counter-trend impetus as the first wave of junior level (i) and a bullish correction of junior level is developing within the second wave. If this assumption is correct and the price does not break the critical level 125.87, it's logical to expect the pair to continue declining to the levels of 120.00–119.00 upon completion of correction.

Trading tips

Sell the pair from corrections below the level of 125.87 with a target at 120.00–119.00.

Alternative scenario

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

USD/JPY: wave analysis

USD/JPY: wave analysis




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