The pair is in the correction.

Assumingly, a starting impetus as the first wave (i) within the third wave iii of 5 of the senior level has formed. Locally, a formation of a downward correction towards 38-50%, 123.00-122.00 has started. The critical to this scenario is the level of 124.50.

Trading tips

Short-term: sell the pair below 124.50 with the target at 123.00-122.00.

Medium-term: wait for the correction to finish and buy the pair above 120.35 with the target at 126.00-127.00.

Alternative Scenario

The breakout and consolidation above 124.50 would allow the pair to continue growing towards 126.00-127.00.

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 -->