USD/JPY: Wave analysis and forecast for 22.04 – 29.04: The pair is likely to grow.
Estimated pivot point is at the level of 107.80.
Our opinion: Buy the pair from correction above the level of 107.80 with the target of 114.00.
Alternative scenario: Breakout and consolidation of the price below the level of 107.80 will trigger the decline in the pair to the levels of 106.60 – 106.00.
Analysis: Presumably, the formation of the downward impetus has completed in the third wave of the senior level. At the moment it is likely that upward correction of the senior level is being formed as the fourth wave. Supposedly within this wave the first wave of the junior level (a) of iv is being formed. If this assumption is correct, the pair may rise up to 114.00. Ctitical level for this scenario is 107.80.