The pair is expected to decline.

Assumingly, a large Bearish correction as the fourth wave (4) continues forming. At present, wave B seems to have finished forming and wave C of 4 of the senior level seems to have started developing. If the assumption is correct and the price does not break out the critical level of 121.48, it is logical to expect a further decline towards 118.00-117.00.

Trading tips

Sell the pair from corrections, below the level of 121.48 with the target at 118.00-117.00.

Alternative scenario

The breakout and consolidation above the level of 121.48 would allow the pair to continue growing to 123.00.

USD/JPY: wave analysis

USD/JPY: wave analysis




Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.



Follow us in social networks!
Live Chat
Leave feedback