![USDJPY Wave analysis and forecast for 25.07 – 01.08: The pair is likely to decline. USDJPY Wave analysis and forecast for 25.07 – 01.08: The pair is likely to decline.](https://c.mql5.com/6/2/splash-1416.jpg)
USDJPY Wave analysis and forecast for 25.07 – 01.08: The pair is likely to decline.
27 July 2014, 14:03
![Abdolreza Basirizadeh Abdolreza Basirizadeh](https://c.mql5.com/avatar/2014/7/53C6B3CB-A10A.jpg)
0
106
Estimated pivot point is at the level of 102.27.
Our opinion: Sell the pair from correction below the level of 102.27 with the target of 100.00 – 99.40.
Alternative scenario: Breakout of the level of 102.27 will allow the price to continue the rise up to the level of 103.00.
Analysis: On the daily timeframe it is not excluded that the formation of the horizontal correction as the wave (B) which took a shape of a triangle, has completed. At the moment it is likely that the first wave 1 of (C) is being formed, within which an impetus may emerge. If this assumption is correct, the pair will continue to decline to 100.00 – 99.40. Critical level for this scenario is 102.27.