USD/JPY: WAVE ANALYSIS

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USD/JPY: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point142.54
Take Profit146.77, 150.00
Stop Loss141.15
Key Levels133.52, 135.63, 138.10, 146.77, 150.00
Alternative scenario
RecommendationSELL STOP
Entry Point138.05
Take Profit135.63, 133.52
Stop Loss138.85
Key Levels133.52, 135.63, 138.10, 146.77, 150.00

Growth is possible.

On the daily chart, the third wave of the higher level (3) ended, a downward correction formed as the fourth wave (4), and the fifth wave (5) develops, within which the wave 1 of (5) forms. Now, the third wave of the lower level iii of 1 has formed, a local correction has ended as the wave iv of 1, and the wave v of 1 is developing, within which the wave (iii) of v is forming. If the assumption is correct, the USD/JPY pair will grow to the area of 146.77–150.00. In this scenario, critical stop loss level is 138.10.

USD/JPY: WAVE ANALYSIS

USD/JPY: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 138.10 with the targets at 146.77–150.00. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 138.10 will let the asset go down to the area of 135.63–133.52.

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