USD/JPY Wave analysis and forecast for 27.06 – 04.07: The pair is likely to decline.
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Estimated pivot point is at the level of 102.19.
Our opinion: Sell the pair from correction below the level of 102.19 with the target 100.80 – 100.0.
Alternative scenario: Violation of handle 102,19 will let a cuurence pair continue to grow up to handle 103,0.
Analysis: A breakout of the level 102.19 will let the pair grow up to the level 103.0 Admittedly, the formation of the last ABC zigzag wave under daily timeframe is continuing. Locally, there is a formation of the fifth wave, under which the (a),(b),(c) zigzag is forming. If the statement is true, the pair will fall near the level 100.0. The level 102.19 is critical for this scenario.
