USD/JPY Wave analysis and forecast for 29.12 – 05.01
Estimated pivot point is at a level of 112.99. Main scenario: short positions will be relevant from corrections below the level of 112.99 with a target of 111.96. Alternative scenario: breakout and consolidation above the level of 112.99 will allow the pair to continue the rise up to the levels of 113.72 – 114.73. Analysis: Supposedly, the third wave of senior level 3 of C continues forming in the 4-hour time frame. Apparently, a downward correction in the…