USD/JPY: WAVE ANALYSIS

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USD/JPY: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point151.28
Take Profit157.00, 161.50
Stop Loss146.40
Key Levels142.80, 144.30, 146.40, 157.00, 161.50
Alternative scenario
RecommendationSELL STOP
Entry Point146.35
Take Profit144.30, 142.80
Stop Loss147.00
Key Levels142.80, 144.30, 146.40, 157.00, 161.50

Growth is possible.

On the daily chart, the third wave of the higher level (3) formed, a downward correction ended as the fourth wave (4), and the fifth wave (5) develops, within which the wave 3 of (5) started. Now, the third wave of the lower level iii of 3 is forming, within which the wave (i) of iii has developed, and a local correction is developing as the wave (ii) of iii. If the assumption is correct, the USD/JPY pair will grow to the area of 157.00–161.50. In this scenario, critical stop loss level is 146.40.

USD/JPY: WAVE ANALYSIS

USD/JPY: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 146.40 with the targets at 157.00–161.50. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 146.40 will let the asset go down to the area of 144.30–142.80.


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