Sunday, 1 December 2013

22:35
USD/JPY Wave analysis and forecast for 29.11 – 06.12: The pair keeps on growing.Estimated pivot point is at the level of 101.13.Our opinion: Buy the pair from correction above the level of 101.13 with the target levels of 103.0 – 104.0.Alternative scenario: Breakout of the level of 101.13 will enable the pair to continue decline to the level of 100.0.Analysis: Presumably, the third wave of the higher level iii of 1 of (5) is being formed, in which the wave 3of iii is rapidly developing. If this assumption is true, it makes sense to expect that ascending movement within the third wave will continue up to levels of 103.30 – 104.00. 




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