USD/JPY Wave analysis and forecast for 13.06 – 20.06: The pair is likely to decline. Estimated pivot point is at the level of 102.79.

Our opinion: Sell the pair below the level of 102.79 with the target of 100.0.

Alternative scenario: Breakout of the level of 102.79 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 wave (a) of the zigzag has completed. If this assumption is correct, following the completion of the local correction (b) of V, the pair will continue to decline to the level of 100.0. Critical level for this scenario is 102.79.

USD/JPY Wave analysis and forecast for 23.05 – 30.05: The pair is likely to decline.

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Estimated pivot point is at the level of 102.36.

Our opinion: Sell the pair below the level of 102.36 with the target of 100.0 – 99.0.

Alternative scenario: Breakout of the level of 102.36 will enable the rise in the pair up to the levels of 104.0 – 105.0.

Analysis: Presumably, the formation of the third wave continues. Within this wave extension of the impetus may take place. Locally, it is assumed that the formation of the first and second wave of the junior level has completed. If this assumption is correct, the pair will continue to fall to the level of 100.0. Critical level for this scenario is 102.36.

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USD/JPY Wave analysis and forecast for 16.05 – 23.05: The pair is likely to decline.

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Estimated pivot point is at the level of 102.09.

Our opinion: Sell the pair below the level of 102.09 with the target of 100.0 – 99.0.

Alternative scenario: Breakout of the level of 102.09 will enable the rise in the pair up to the levels of 104.0 – 105.0.

Analysis: Presumably, the formation of the third wave in the wave C of the senior level continues. Locally, the third wave of the junior level is being formed and it this assumption is correct, it makes sense to expect that the decline in price will continue up to the levels of 100.0 – 99.0.

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