Primary situation: think about quick positions from corrections beneath the extent of 111.66 with a goal of 108.20 – 107.09.
Different situation: breakout and consolidation above the extent of 111.66 will permit the pair to proceed rising to the degrees of 113.50 – 115.00.
Evaluation: Day by day TM: apparently, a descending correction of bigger diploma completed forming as wave B, and wave С began creating, with the primary wave (1) of С forming inside.
The third wave of smaller diploma 3 of (1) continues creating on the H4 timeframe, with wave i of three shaped and a draw back correction creating as wave ii of three inside. Wave (а) of ii seems to be unfolding on the H1 timeframe, with wave v of (a) creating as a part of it. If the presumption is right, the pair will proceed to drop to the degrees of 108.20 – 107.09. The extent of 111.66 is important on this situation as a breakout will allow the pair to proceed rising to the degrees of 113.50 – 115.00.
Worth chart of USDJPY in actual time mode
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