The pair USD/JPY is still likely to grow. Estimated pivot point is at a level of 106.93.
Main scenario: long positions will be relevant from corrections above the level of 106.93 with a target of 109.35 – 112.32.
Alternative scenario: Breakout and consolidation below the level of 106.93 will allow the pair to continue declining to the levels of 105.71 – 104.43.
Analysis: On the daily time frame, supposedly, a large correction has stopped forming 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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