A growth has resumed.

Assumingly, a large “bearish” correction as the fourth wave (4) continues forming. At present, there seems to be a formation of wave B, within which, assumingly, wave of the junior level c of B of (4) is developing. If the assumption is correct and the price does not break down the critical level of 120.21, the pair is likely to grow further to 122.00-123.25.

Trading tips

Buy the pair from corrections, above the level of 120.21 with the target at 122.00-123.00.

Alternative scenario

If the price breaks down the level of 120.21, sell the pair with the target at 117.00-116.00.

USD/JPY: wave analysis

USD/JPY: wave analysis

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