A descending trend is strong. Short-term growth is possible.

Assumingly, a downward impulse in the third wave of the senior level continues forming. At present, an ascending correction in the fourth wave (iv) of iii seems to be developing, within which a flat is expected to form. If the assumption is correct, in the short-term the pair is likely to grow to 115.00. Critical for this scenario is the level of 112.20.

Trading tips

In the shot-term, buy the pair above the level of 112.20 with the target at 115.00.

Alternative scenario

The breakdown and consolidation below the level of 112.20 would allow the pair to fall to 106.00, 107.00.

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