Downward correction is completed, the pair USD/JPY is likely to grow. Estimated pivot point is at a level of 106.50.
Main scenario: long positions will be relevant above the level of 106.50 with a target of 108.77 – 110.67.
Alternative scenario: breakout and consolidation below the level of 106.50 will allow the pair to continue declining to a level of 104.50.
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...
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