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The USD/JPY pair is in a correction, still likely to fall. Estimated pivot point is at a level of 109.51.
Main scenario: short positions will be relevant from corrections below the level of 109.51 with a target of 107.55 – 106.95.
Alternative scenario: breakout and consolidation above the level of 109.51 will allow the pair to continue rising to the levels of 110.50 – 111.00.
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) has started forming. Supposedly, wave i of 1 of (С)…
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