Review of USD / JPY pair for the week of June 20 on simplified wave analysis

The wave pattern of the H4 graph:

The rising wave of February 16 gave rise to the final part (C) in a larger-scale bullish formation. The preliminary target level is approximately 4 figures higher than the current rate.

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The wave pattern of the H1 graph:

After the corrective phase of the movement, an upward wave formed from May 29. Since last week, the price forms the opposite section (B).

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The wave pattern of the M15 chart:

The bearish wave of June 15 takes the place of correction in the previous increase and has a small downward potential.

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Recommended trading strategy:

Sales of the instrument are risky and not recommended. For all trading styles, it is recommended to pay attention to buying signals of the pair.

Resistance zones:

- 113.30 / 113.80

- 111.20 / 111.70

Support zones:

- 109.40 / 108.90

Explanations to the figures:

A simplified wave analysis uses a simple waveform, in the form of a 3-part zigzag (ABC). The last incomplete wave for every timeframe is analyzed. Zones show the calculated areas with the greatest probability of a turn.

Arrows indicate the counting of wave according to the technique used by the author. The solid background shows the generated structure and the dotted exhibits the expected wave motion.

Attention: The wave algorithm does not take into account the duration of the tool movements in time. To conduct a trade transaction, you need to confirm the signals used by your trading systems.

The material has been provided by InstaForex Company - www.instaforex.com