USD/JPY Wave analysis and forecast for 28.02 – 07.03

USD/JPY Wave analysis and forecast for 28.02 – 07.03: The pair is experiencing correction. A chance of medium-term decline in the pair is preserved. Estimated pivot point is at the level of 105.40.

For Detail Analysis, Trading Signals and Complete Forex Training In Urdu Call Us +92-300-6561240, Or Visit http://www.pakeagle.com.pk

Our opinion: In the short-term: sell the pair below the level of 101.34 with the target of 103.30 – 103.60. In the medium-term: wait for the completion of ascending correction and sell the pair below the level of 105.40 with the target of 100.0 – 90.0.
Alternative scenario: Breakdown at the level of 105.40 will enable the pair to continue growth within uptrend to the level of 106.00 – 107.0.
Analysis: Presumably, the first in-lead wave within estimated large downward correction has completed. Locally, local ascending correction as the second wave, which is likely to take shape of a plane is being formed with a target level of 103.07. If this assumption is true, following completion of correction it makes sense to expect that the pair will continue to decline in the third wave.

USDJPY Wave analysis and forecast for 28.02 – 07.03 - 01 USDJPY Wave analysis and forecast for 28.02 – 07.03 - 02

For Detail Analysis, Trading Signals and Complete Forex Training In Urdu Call Us +92-300-6561240, Or Visit http://www.pakeagle.com.pk