rajenderam40
Short

USD/JPY: Wave analysis

FX:USDJPY   U.S. Dollar/Japanese Yen
113 0 4
USD/JPY: Wave analysis : Correction is nearing completion.

Estimated pivot point is at the level of 116.00.

Our opinion: Sell the pair from correction below the level of 116.00 with the target of 108.00 – 107.00.

Alternative scenario: Breakout and consolidation of the price above the level of 116.00 allow the pair to continue the rise up to the levels of 120.00 – 122.00.

Analysis: Presumably the formation of the downward impetus continues in the third wave of the senior level. At the moment it is likely that upward correction is nearing completion as the fourth wave (iv) of iii             , which is likely to take a shape of a plane. If this assumption is correct after the completion of correction the pair will continue to decline to 108.00 – 107.00. Critical level for this scenario is 116.00.

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out