USD/JPY News and Analysis
Source: LiteForex Broker(information and review)
USD/JPY Wave analysis and forecast of 27.03 – 03.04: The pair is expected to fall due to correction.
Estimated pivot point is at a level of 121.96.
Our opinion: Sell the pair from correction below the level of 121.96 with a target at 116.80. Buy the pair with a target at 124.00 in case the level 121.96 is broken.
Alternative scenario: Breakdown and consolidation below the level of 121.96 will allow the pair to continue rising to a level of 124.00.
Analysis: Apparently, a bullish impetus in the third wave 3 has finished on the daily time-frame by now. The fourth wave 4 is forming locally. If this assumption is correct and the price does not break the critical level 121.96, the pair will continue to decline to a level of 116.80.