The USD/JPY pair is under correction, still likely to grow. Estimated pivot point is at a level of 105.99.
Main scenario: long positions will be relevant above the level of 105.99 with a target of 109.35 – 112.32 once correction has formed.
Alternative scenario: Breakout and consolidation below the level of 105.99 will allow the pair to continue declining to the levels of 104.43 – 103.50.
Analysis: On the daily time frame, supposedly, a large correction has been completed in the form of wave (B) of senior level and wave (С) is starting to form. On the H4 time-frame, apparently,…
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