FX.co ★ Wave analysis of USD/JPY for August 4, 2010

The testing by the USD/JPY pair of the descending corridor can finish with some upward movement. It is because of that with the existing market direction in favor of the Japanese currency today’s low can determine wave 1 in the future 3 (in 5, in C). Anyway, the inner dimension of this supposed 1 allows the price rebound from the levels around the mark of 85.00.