OANDA:USDJPY   U.S. Dollar / Japanese Yen
The growth of the pair is expected.

On the 4-hour chart, the downward correction of the higher level has formed as a wave 2 of C. Now the downward momentum has ended as a wave c of 2. If the assumption is correct, the pair will grow to the level of 111.48. The level of 108.30 is critical for this scenario.

Main scenario

Long positions will become relevant during the correction, above the level of 108.30 with the target at 111.48.

Alternative scenario

The breakdown and the consolidation of the price below the level of 108.30 will let the pair go down to the level of 107.30.

Trade

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 108.68
Take Profit 111.48
Stop Loss 107.75
Key Levels 107.30, 108.30, 111.48

Alternative scenario

Recommendation SELL STOP
Entry Point 108.20
Take Profit 107.30
Stop Loss 108.80
Key Levels 107.30, 108.30, 111.48
More analytic from LiteForex:
English https://www.liteforex.com/blog/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
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