USD/JPY Wave analysis

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USD/JPY News and Analysis

Source: LiteForex Broker(information and review)

USD/JPY Wave analysis and forecast of 27.03 – 03.04: The pair is expected to fall due to correction.

Estimated pivot point is at a level of 121.96.

Our opinion: Sell the pair from correction below the level of 121.96 with a target at 116.80. Buy the pair with a target at 124.00 in case the level 121.96 is broken.

Alternative scenario: Breakdown and consolidation below the level of 121.96 will allow the pair to continue rising to a level of 124.00.

Analysis: Apparently, a bullish impetus in the third wave 3 has finished on the daily time-frame by now. The fourth wave 4 is forming locally. If this assumption is correct and the price does not break the critical level 121.96, the pair will continue to decline to a level of 116.80.

USD/JPY Charts

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