USD/JPY: Wave analysis and forecast for 25.03 – 01.04: Correction is nearing completion. The pair is likely to decline.
Estimated pivot point is at the level of 113.84.
Our opinion: Sell the pair from correction below the level of 113.84 with the targets of 107.00 – 106.60.
Alternative scenario: Breakout and consolidation of the price above the level of 113.84 will trigger rise up to the level of 116.00.
Analysis: Presumably the formation of the downward impetus continues in the third wave of the senior level. At the moment it is likely that the upward correction as the fourth wave (iv) of iii, which has taken a shape of a triangle, has completed. The fifth wave (v) of iii, is being developed, within which one-two wave of the junior level i of (v) has been formed. If this assumption is correct, in the near future the pair will continue to decline 106.60. Critical level for this scenario is 113.84.