The USD/JPY pair is under correction, still likely to fall Estimated pivot point is at a level of 109.19.
Main scenario: short positions will be relevant from corrections below the level of 109.19 with a target of 107.51.
Alternative scenario: breakout and consolidation above the level of 109.19 will allow the pair to continue the rise up to the levels of 110.67 – 112.40.
Analysis: Supposedly, the wave of senior level (C) of B continues developing on the D1 time frame, with the wave 3 of (C) forming inside. On the H4 timeframe, presumably there’s a descending correction ii of…
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