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USD/JPY
Jan 16, 2016 at 17:40
Member Since Dec 31, 2014
94 posts
Wave analysis and forecast for 15.01 – 22.01: Downtrend continues.
Estimated pivot point is at the level of 118.42.
Our opinion: Sell the pair from correction below the level of 118.42 with the target of 116.00 – 115.00.
Alternative scenario: Breakout and consolidation of the price above the level of 118.42 will enable the pair to continue the rise up to the levels of 121.00 – 122.00.
Analysis: The formation of the wave С of 4 of the senior level continues. Within this wave the impetus is likely to develop. At the moment, the formation of the third wave of the impetus iii of C is likely to finish and within it the decline in the fifth wave (v) is expected . If this assumption is correct, the pair will continue to decline to 116.00 – 115.00. Critical level for this scenario is 118.42.
Estimated pivot point is at the level of 118.42.
Our opinion: Sell the pair from correction below the level of 118.42 with the target of 116.00 – 115.00.
Alternative scenario: Breakout and consolidation of the price above the level of 118.42 will enable the pair to continue the rise up to the levels of 121.00 – 122.00.
Analysis: The formation of the wave С of 4 of the senior level continues. Within this wave the impetus is likely to develop. At the moment, the formation of the third wave of the impetus iii of C is likely to finish and within it the decline in the fifth wave (v) is expected . If this assumption is correct, the pair will continue to decline to 116.00 – 115.00. Critical level for this scenario is 118.42.
Top Forex Robot
Member Since Oct 11, 2013
775 posts
Member Since Oct 11, 2013
775 posts
Member Since Dec 11, 2015
1487 posts
Jan 20, 2016 at 11:06
Member Since Dec 11, 2015
1487 posts
It broke below the support at 116.70, so I too think it will continue falling.
Member Since Oct 02, 2014
909 posts
Member Since Oct 11, 2013
775 posts
Member Since Dec 11, 2015
1487 posts
Jan 28, 2016 at 11:34
Member Since Dec 11, 2015
1487 posts
I too think that the pair is rising towards target 119.00, it might even reach 119.80.
Member Since Oct 11, 2013
775 posts
Member Since Oct 02, 2014
909 posts
Member Since Dec 11, 2015
1487 posts
Feb 03, 2016 at 11:49
Member Since Dec 11, 2015
1487 posts
It's testing 119, a breakout below that support would mean it will continue falling towards 118 - 117.50.
Member Since Oct 02, 2014
909 posts
Member Since Oct 11, 2013
775 posts
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