USD / JPY pair

<p>Analysis: as part of the daily timeframe, the development of a large horizontal correction as the wave (B) of B, which took the form of a triangle, was supposedly completed. On the 4-hour timeframe, the development of wave (C) of B began, as part of which the first wave i of 1 of (C) was formed and the development of local correction as wave ii of 1 of (C) was completed. In the framework of the hourly timeframe, most likely, a local correction is being formed as the wave ii of 1 of (C), and if the assumption is correct, then after its completion the pair will continue to decline to marks 101.08 – 98.73. Critical to this scenario is the level of 111.67, a breakdown of which will allow the pair to continue to grow to marks 114.53 – 118.70. </p>
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<p> The main scenario: “short positions” are relevant from corrections below the level of 111.67 with the target of 101.08 – 94.58. </p>