USDJPY Wave analysis and forecast for 07.03 – 14.03

USD/JPY Wave analysis and forecast for 07.03 – 14.03: Correction has completed. The pair is likely to decline. Estimated pivot point is at the level of 103.13.

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Our opinion: Wait for the formation of reversal and the first in-lead downward wave and sell the pair in case of consolidation below the level of 103.13 with the target of 101.0 – 100.0.
Alternative scenario: The rise in price above the level of 103.13 will enable the pair to continue growth to the level of 103.60 – 104.30.
Analysis: Presumably, the first in-lead wave within large downward correction has completed. Locally, ascending correction as the second wave, which has shape of a plane is nearing completion. If this assumption is true, the price will soon reverse and continue to decline in the third wave.

USDJPYH4

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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.

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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

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