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The pair USD/JPY is still likely to fall. Estimated pivot point is at a level of 109.31.
Main scenario: short positions will be relevant from corrections below the level of 109.31 with a target of 104.50 – 103.00.
Alternative scenario: breakout and consolidation above the level of 109.91 will allow the pair to continue the rise up to the levels of 112.38 – 114.40.
Analysis: Presumably, a huge correction finished developing in the form of wave B of senior level on the D1 time-frame and the wave C started forming. Supposedly, the first wave of junior level 1 is developing…
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