USD/JPY Wave analysis and forecast for 20.06 – 27.06: The pair is likely to decline.
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Estimated pivot point is at the level of 102.34.
Our opinion: Sell the pair below the level of 102.34 with the target of 100.0.
Alternative scenario: Breakout of the level of 102.34 will allow the price to continue growth to the level of 104.0.
Analysis: Presumably, the formation of the final wave of the zigzag АВС is still ongoing on the daily timeframe. Locally, the fifth wave is being formed, within which the corrective wave (b) of the zigzag has completed and the final wave (c) of V started to develop. If this assumption is correct, the pair will continue to decline to the level of 100.0. Critical level for this scenario is 102.34.
