USD/JPY Remains Likely To Fall

USD/JPY Wave Analysis And Forecast May 24 – 31, 2019

The pair is under correction, still likely to fall. The estimated pivot point is at a level of 110.69.

Main scenario: Short positions will be relevant from corrections below the level of 110.69 with a target of 108.42 – 107.51.

Alternative scenario: Breakout and consolidation above the level of 110.69 will allow the pair to continue the rise up to the levels of 112.40 – 114.44.

Analysis: Supposedly, the wave of senior level (C) of B continues developing on the daily time frame, with the wave 2 of (C) formed inside. On the H4 time frame, presumably the first counter-trend wave of junior level i of 3 of (C) has formed and a downward correction ii of 3 is developing. On the H1 time-frame, apparently, a descending impetus has formed in the form of wave (a) of ii and the wave (b) of ii is completed. If the presumption is correct, the pair will continue to drop to the levels 108.42 – 107.51. The level of 110.69 is critical in this scenario.

USD/JPY 1 Hour

USD/JPY 1 Hour

USD/JPY 4 Hour

USD/JPY 4 Hour

USD/JPY Daily

USD/JPY Daily

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.