USD/JPY: wave analysis on 27.05.2015

May 27, 2015

Uptrend continues.

The pair continues growing and we can suppose that a bullish impetus is developing with the third wave iii of 5 developing within. If this assumption is correct, the pair will go on growing to a level of 124.50. The level of 120.66 is critical in this scenario as the breakout will enable the pair to continue declining to the levels 119.00– 118.00.

Trading tips

Buy above a level of 121.77 with a target at 124.50.

Alternative scenario

Breakout and consolidation below the level of 120.66 will allow the pair to continue declining to the levels 119.00–118.00.

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