Analysis of wave counting:
Yesterday, having updated the reached minimum and having completed the level of the 113th figure, the pair USD / JPY could not further decide on the direction of the movement. The resulting wave situation suggests that the currency pair continued to attempt to complete the wave c, c, e, c, c, (B) and go to the stage of forming the first generating waves in the future wave (C). At the same time, there is still a probability of a renewed growth in quotations and an even greater complication of the internal wave structure of the wave c, c, E, C, c (B).
Objectives for a downward wave option:
111.98 - 38.2% by Fibonacci
111.24 - 50.0% by Fibonacci
Objectives for an upward wave option:
114.72 - 127.2% by Fibonacci
115.00
General conclusions and trading recommendations:
The tool continues to build the wave E, C, (B). In the framework of the construction of the wave c, c, e, c, c (B), the increase in quotations may still resume with targets near the estimated level of 114.72, which corresponds to 127.2% of Fibonacci. After the completion of the construction of this wave (possibly completed), the instrument can go to the stage of a long decline within the wave (C), with the first targets near the marks of 111.98 and 111.24, which corresponds to 38.2% and 50.0% by Fibonacci (the goals will be revised).
