The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 106.77.
Main scenario: long positions will be relevant from corrections above the level of 106.77 with a target of 109.35 – 112.32.
Alternative scenario: Breakout and consolidation below the level of 106.77 will allow the pair to continue declining to the levels of 105.71 – 104.43.
Analysis: Supposedly, a large correction has stopped forming on the daily time frame in the form of wave (B) of senior level and wave (С) is starting to form. Presumably, the first wave of junior level i of…
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