USD/JPY: WAVE ANALYSIS
| Scenario | |
|---|---|
| Time period | Weekly |
| Recommendation | BUY |
| Entry point | 146.48 |
| Get the profit | 157.05, 162.08 |
| Stop loss | 143.70 |
| Critical levels | 130.00, 136.91, 143.70, 157.05, 162.08 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry point | 143.65 |
| Get the profit | 136.91, 130.00 |
| Stop loss | 145.90 |
| Critical levels | 130.00, 136.91, 143.70, 157.05, 162.08 |
Growth is possible.
On the daily chart, the fifth wave of the high-degree (5) of C is developing, in which wave 3 of (5) was formed, the correction ended as wave 4 of (5) and wave 5 of (5) began. At present, the first wave of the low-degree i of 5 is developing, in which wave (i) of i ended, the correction formed as wave (ii) of 1 and wave (iii) of i developed. If the forecast is correct, the USD/JPY pair will rise to the 157.05–162.08 zone. The critical stop loss level in this scenario is 143.70.
Main scenario
Long positions will be updated with targets of 157.05–162.08 on correction above 143.70. Trading period: 7 days and above.
Alternative scenario
If the price breaks out and consolidates below the 143.70 level, the asset will fall to the 136.91–130.00 zone.
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