USD/JPY Wave analysis and forecast for 30.12 – 06.01: The pair is likely to rise.
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Estimated pivot point is at the level of 115.98.
Our opinion: Buy the pair from correction above the level of 115.98 with the target of 119.60.
Alternative scenario: Breakdown and consolidation of the price below the level of 115.98 will trigger the rise up to 114.00 – 113.00.
Analysis: Presumably, the formation of the bullish impetus in the wave С of (B) continues as part of the upward correction. Locally, it is likely that the correction as the wave iv of C has completed while the fifth wave started to develop. If this assumption is correct, the pair may rise up to 119.60. Critical level for this scenario is 115.98.
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