USD/JPY: wave analysis
15 February 2019, 08:56
| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | BUY |
| Entry Point | 110.37 |
| Take Profit | 111.42, 113.67 |
| Stop Loss | 109.65 |
| Key Levels | 106.20, 107.73, 109.65, 111.42, 113.67 |
| Alternative scenario | |
|---|---|
| Recommendation | SELL STOP |
| Entry Point | 109.60 |
| Take Profit | 107.73, 106.20 |
| Stop Loss | 110.25 |
| Key Levels | 106.20, 107.73, 109.65, 111.42, 113.67 |
The pair may grow.
On the 4-hour chart, a downward correction of the higher level developed as the wave 2 of (C), and the formation of the third wave 3 of (C) begun. Now the first wave of the lower level i of 3 is developing, within which the wave (v) of i is forming. If the assumption is correct, the pair will grow to the levels of 111.42–113.67. In this scenario, critical stop loss level is 109.65.
Main scenario
Long positions will become relevant during the correction, above the level of 109.65 with the targets at 111.42–113.67. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 109.65 will let the pair go down to the levels of 107.73–106.20.
On the 4-hour chart, a downward correction of the higher level developed as the wave 2 of (C), and the formation of the third wave 3 of (C) begun. Now the first wave of the lower level i of 3 is developing, within which the wave (v) of i is forming. If the assumption is correct, the pair will grow to the levels of 111.42–113.67. In this scenario, critical stop loss level is 109.65.
Main scenario
Long positions will become relevant during the correction, above the level of 109.65 with the targets at 111.42–113.67. Implementation period: 5–7 days.
Alternative scenario
The breakdown and the consolidation of the price below the level of 109.65 will let the pair go down to the levels of 107.73–106.20.
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