USD/JPY review for June 18, 2015

June 18, 2015

The pair continues to decline.

The formation of the “bullish” correction as the wave (ii) has completed. Locally, it seems that the third wave (iii) is being developed within the “bearish” impetus with the at 120.35. If this assumption is correct, and the price does not break out the critical level of 124.45, the pair is likely to go down to 120.35–119.00.

Trading tips

Sell the pair from correction below the level of 124.45 with the target at 120.00–119.00.

Alternative scenario

Breakout and consolidation  above the level of 124.45 will allow the pair to grow to 126.00–126.50.

Publication source
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