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14.09.2020
The pair may grow.
On the daily chart, the third wave of the higher level (3) develops, within which the wave 5 of (3) forms. Now, the wave iii of 5 of the lower level has formed, a local correction has developed as the wave iv of 5, and the wave v of 5 is forming. If the assumption is correct, the pair will grow to the levels of 2130.03–2200.00. In this scenario, critical stop loss level is 1902.82.
The pair may grow.
On the 4-hour chart, the first wave of the higher level 1 of (3) develops, within which the wave iii of 1 formed. Now, a local correction has developed as the fourth wave iv of 1, and the formation of the wave v of 1 started. If the assumption is correct, the pair will grow to the levels of 1.2100–1.2200. In this scenario, critical stop loss level is 1.1753.
At 06:30 (GMT+2), the data on Japanese Industrial Production will be published. It is a major indicator of the strength of the manufacturing sector, reflecting the production volume of factories and mines in Japan. A high reading is considered positive (or "bullish") for the JPY, and a low reading is considered negative (or "bearish"). The indicator is expected to grow by 8.0% in monthly terms and decrease by 16.1% in annual terms.