The probability of an increase in USD/JPY remains. Estimated pivot point is at the level of 105.62.
Main scenario: “long positions” are relevant from corrections above the level of 105.62 with the target of 107.67 – 108.43.
Alternative scenario: breakout and consolidation below the level of 105.62 will allow the pair to decline to 104.00 – 103.00.
Analysis: within the daily timeframe, the development of a large correction as wave (B) of the senior level has supposedly been completed and the formation of wave (C) has begun. On the 4-hour timeframe, the third wave 3 of (C) is supposedly forming,…
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