A fall is expected.

Assumingly, a formation of the triangle within wave b of A of (4) of a presumed zigzag is finished. Locally, a development of wave c of A seems to have started, within which a small starting impulse is forming. If the assumption is correct and the price does not break out the critical level of 121.25, the pair is going to fall to 115.00.

Trading tips

Sell the pair below the level of 121.25 with the target at 115.00.

Alternative scenario

The breakout and consolidation above the level of 121.25 would allow the pair to grow to 123.60.

USD/JPY: wave analysis

USD/JPY: wave analysis

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