Predominant situation: contemplate lengthy positions from corrections above the extent of 149.73 with a goal of 155.00 – 160.00.
Various situation: breakout and consolidation beneath the extent of 149.73 will permit the pair to proceed declining to the degrees of 148.43 – 147.70.
Evaluation: an ascending wave of bigger diploma C continues forming on the every day chart, with fifth wave (5) of C unfolding as its half. The third wave 3 of (5) is unfolding on he H4 timeframe, with first wave of smaller diploma i of three and corrective second wave ii of three accomplished as its elements. Apparently, wave iii of three is growing on the H1 timeframe, with native correction forming as wave (ii) of iii inside. If the presumption is right, the USDJPY pair will proceed to rise to the degrees of 155.00 – 160.00 upon correction. The extent of 149.73 is essential on this situation as a breakout will allow the pair to proceed falling to the degrees of 148.43 – 147.70.
Worth chart of USDJPY in actual time mode
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