USD/JPY Wave analysis and forecast for 08.11 – 15.11: The pair is likely to continue growth. Estimated pivot point is at the level of 96.90.
Our opinion: Buy the pair from correction above the level of 96.90 with the target levels of 101.0 – 102.0.
Alternative scenario: Breakout of the level of 96.90 will enable the pair to continue decline to the levels of 96.0 - 95.0.
Analysis: Presumably, the third wave of the higher leveliii of 1 of (5) is being formed, in which downward correction in the second wave 2 of iii has reached completion. If this assumption is true, it makes sense to expect that ascending movement in the third wave will continue.
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