USD/JPY: Murray levels analysis
D1. The pair keeps trading in a corridor between the levels of 1/8 (101.56) and 2/8 (103.13). As the market remains flat, and CTD1 doesn’t cross CW1, the logical target is 1.8, but before it the pair can once again touch 1/8.
H4. After the bullish crossing of CTH4 and CTD1, the pattern 8/8 – 4/8 – 7/8 – 0/8 is in doubt. Now, most likely, the pair will return to the level of 6/8 (102.34). A close below this level will lead to a deeper correction to 5/8 (101.95). The alternative scenario is advance to 8/8 (103.13) in case of the break above 7/8 (102.73).