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Main scenario: Consider buying positions from corrections above 153.45 with a target of 161.50 – 167.00.
Alternative scenario: Breaking and holding below level 153.45 will allow the pair to continue falling to levels 150.70 – 146.44.
analysis: The larger C-degree bullish wave continues to form in the daily chart, with the fifth (5) C-degree wave appearing as part of it. The third wave 3 of (5) is unfolding on the H4 time frame, with the first wave of smaller degree i of 3 completed and the second corrective wave ii of 3 completing as parts of it, and the formation of wave iii of 3 continuing. It is clear that the local corrective wave (iv) of iii It has formed on the H1 time frame, and wave (v) of iii is currently unfolding, with wave iii of (v) continuing to develop as part of it. If the assumption is correct, then… USD/JPY The pair will continue to rise to the levels of 161.50 – 167.00. The 153.45 level is crucial in this scenario as a breakout will allow the pair to continue falling to the 150.70 – 146.44 levels.
USDJPY price chart in real time mode
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