A decline is expected.

Assumingly, an upward correction as wave B within the fourth wave (4) has finished forming. At present, wave c of B seems to have finished forming within which a completed impulse can be seen. If the assumption is correct, wave C of the senior level with the target levels of 118.00-116.00 has started forming. A critical for this scenario is the level of 123.80.

Trading tips

Sell the pair from corrections, below the level of 123.80 with the target at 120.00-118.00.

Alternative scenario

The breakout and consolidation above the level of 123.80 would allow the pair to continue growing to 124.50.

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