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USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47

  USD/JPY: the epidemiological situation in Japan is rapidly deteriorating 28 July 2022, 11:47 Scenario Timeframe Weekly Reco...

Jun 5, 2019

USD/JPY: wave analysis 05 June 2019, 10:16

 


Scenario
Timeframe Weekly
Recommendation SELL
Entry Point 108.00
Take Profit 107.50
Stop Loss 108.30
Key Levels 107.50, 109.19, 110.67, 112.40
Alternative scenario
Recommendation BUY STOP
Entry Point 109.25
Take Profit 110.67, 112.40
Stop Loss 108.65
Key Levels 107.50, 109.19, 110.67, 112.40
The pair may fall.
On the 4-hour chart, a downward correction develops as the wave ii of 3 formed as a zigzag. Now, the ending wave (c) of ii is developing, within which the third wave of the lower level iii of (c) has formed, and the correction iv of (c) is developing. If the assumption is correct, the pair will fall to the level of 107.50. In this scenario, critical stop loss level is 109.19.


Main scenario
Short positions will become relevant during the correction, below the level of 109.19 with the target at 107.50. Implementation period: 5–7 days.
Alternative scenario
The breakout and the consolidation of the price above the level of 109.19 will let the pair grow to the levels of 110.67–112.40.

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