USD/JPY Wave analysis and forecast for 10.02 – 17.02: The pair is undergoing correction.

Estimated pivot point is at the level of 115.36.

Our opinion: Wait for the correction and sell the pair below the level of 115.36 with the target of 108.15.

Alternative scenario: Breakout and consolidation of the price above the level of 115.36 will trigger further rise to 118.58.

Analysis: Presumably, the formation of the wave (С) continues. Locally, it is likely that the upward correction as the second wave is being developed, within which the wave (с) of the junior level is being formed as an impetus. If this assumption is correct, after the completion of the correction, the pair may decline to108.15. Critical level for this scenario is 115.36.

USD/CHF Wave analysis and forecast for 10.02 – 17.02: The pair is likely to rise.

Estimated pivot point is at the level of 0.9867.

Our opinion: Buy the pair from correction above the level of 0.9867 with the target of 1.0200.

Alternative scenario: Breakdown and consolidation of the price below the level of 0.9867 will trigger further decline in the pair to 0.9800.

Analysis: Presumably, the formation of the downward correction, as the wave 2 in the shape of a zigzag, has completed. Locally, it is likely that the one-two wedge as the first wave of the junior level (i) has been formed. If this assumption is correct, the pair may resume the rise up to 1.0200. Critical level for this scenario is 0.9867.

GBP/USD Wave analysis and forecast for 10.02 – 17.02: The pair is likely to decline.

Estimated pivot point is at the level of 1.2580.

Our opinion: Sell the pair from correction below the level of 1.2580 with the target of 1.2248 – 1.1984.

Alternative scenario: Breakout and consolidation of the price above the level of 1.2580 will trigger further rise in the pair to 1.27 – 1.28.

Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the formation of the upward correction as the wave ii of 5 has completed and the minor one-two impetus (i) has been formed. If this assumption is correct, the pair may continue to decline to 1.2248 – 1.1984. Critical level for this scenario is 1.2580.

EUR/USDWave analysis and forecast for 10.02 – 17.02: The pair is likely to decline.

Estimated pivot point is at the level of 1.0707.

Our opinion: Sell the pair from correction below the level of 1.0707 with the target of 1.0616 – 1.0455.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0707 may trigger further rise in the pair up to 1.0754 – 1.0795 as part of the deep correction.

Analysis: Presumably, the formation of the upward correction, as the fourth wave 4 of the senior level, has completed. Locally it seems that the fifth wave 5 is being developed, within which an impetus as the wave (i) is being formed. If this assumption is correct, the pair will continue to decline to 1.0616 – 1.0455. Critical level for this scenario is 1.0707.

USD/JPY Wave analysis and forecast for 20.01 – 27.01: Downtrend continues.

Estimated pivot point is at the level of 116.19.

Our opinion: Sell the pair from correction below the level of 116.19 with the target of 113.80 – 111.58.

Alternative scenario: Breakout and consolidation of the price above the level of 116.19 will trigger further rise to 117.55.

Analysis: Presumably, the formation of the wave (С) continues, within which the first wave has been formed. Locally, it is likely that the upward correction as the wave ii is being formed, within which an impetus (a) has been formed and the wave (b) is being developed. If this assumption is correct, the pair may go down to 113.80 – 111.58. Critical level for this scenario is 116.19.

USD/CHF Wave analysis and forecast for 20.01 – 27.01: The pair is likely to rise.

Estimated pivot point is at the level of 0.9993.

Our opinion: Buy the pair from correction above the level of 0.9993 with the target of 1.0198.

Alternative scenario: Breakdown and consolidation of the price below the level of 0.9993 will trigger further decline in the pair to 0.9940.

Analysis: Presumably, the formation of the downward correction, as the wave 2, which took a shape of the irregular plane, has completed. Locally, it is likely that the first wave of the junior level (i) has been formed and the correction (ii) is being developed. If this assumption is correct, the pair may go up to 1.0198. Critical level for this scenario is 0.9993.

GBP/USD Wave analysis and forecast for 20.01 – 27.01: The pair is in correction.

Estimated pivot point is at the level of 1.2417.

Our opinion: Sell the pair from correction below the level of 1.2417 with the target of 1.2204 – 1.1885.

Alternative scenario: Breakout and consolidation of the price above the level of 1.2417 will trigger further rise in the pair to 1.2540.

Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the first wave as the wedge i of 5, has formed and the upward correction as the wave ii of 5 is being developed, within which upward impetus has been formed (a) and the wave (b) is being developed. If this assumption is correct, the pair may continue to decline to 1.2204 within the wave (b). Critical level for this scenario is 1.2417.

EUR/USD Wave analysis and forecast for 20.01 – 27.01: The pair is likely to decline.

Estimated pivot point is at the level of 1.0718.

Our opinion: Sell the pair from correction below the level of 1.0718 with the target of 1.0500.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0718 may trigger further rise in the pair up to 1.0856.

Analysis: Presumably, the formation of the upward correction as the fourth wave of the senior level, continues. Locally it seems that the wave a of 4 has completed, while the wave b of 4 is being formed. If this assumption is correct, the pair will continue to decline to 1.0500. Critical level for this scenario is 1.0718.

USD/CHF Wave analysis and forecast for 13.01 – 20.01: Decline in the pair is likely to continue.

Estimated pivot point is at the level of 1.0246.

Our opinion: Sell the pair from correction below the level of 1.0246 with the target of 0.9945.

Alternative scenario: Breakout and consolidation of the price above the level of 1.0246 will trigger further rise in the pair up to 1.0329.

Analysis: Presumably, the formation of the downward correction continues, as the wave 2, which takes a shape of the irregular plane. Locally, it is likely that the wave c of 2 is being formed, within which the third wave (iii) is being developed. If this assumption is correct, the pair may go down to 0.9945. Critical level for this scenario is 1.0246.