USD/JPY Wave analysis and forecast for 25.04 – 02.05

USD/JPY Wave analysis and forecast for 25.04 – 02.05: Formation of upward correction has completed. The pair is likely to decline.

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Estimated pivot point is at the level of 102.73.

Our opinion: Sell the pair below the level of 102.73 with the target of 100.0.

Alternative scenario: Breakout of the level of 102.73 will enable the pair to continue the rise up to 103.0 – 104.0.

Analysis: Presumably ascending correction as the second wave has reached completion. Locally, in-lead first wave in the shape of expanding wedge has been formed. If this assumption is true, and the price does not break down critical level of 102.73, the pair will continue to decline in the third wave.

USDJPY-H1 USDJPY-H4

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