FX.co ★ Wave analysis of USD/JPY for July 23, 2010

Having finished yesterday the formation of the correctional structure of the supposed 2nd wave or b (within abc waves), the price began to move in the direction of the US dollar, perhaps in the limits of c wave. It should be noticed that if the current situation is really developing in the correctional direction, then after reaching the levels lying within 87.60 – 88.40, we will be able to see the downward trend continuation against the US dollar.