Downward correction is complete, the pair USD/JPY is likely to grow. Estimated pivot point is at a level of 106.77.
Main scenario: long positions will be relevant above the level of 106.77 with a target of 109.38 – 109.94.
Alternative scenario: breakout and consolidation below the level of 106.77 will allow the pair to continue declining to the levels of 106.00 – 104.57.
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 the descending correction ii of 3 is completed in the form of…
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