Analysis of wave counting:
Having started the trading last week with an upward movement, the pair USD / JPY added more than 180 pp in price, breaking through the maximum reached on October 6 and it was fixed at the end of the Friday session at the level of 113.50. It can be assumed that after completing wave b, (C), the currency pair made an attempt to designate the beginning of the future wave c, (C). If this is so, wave b, (C) will not take a much more complicated form, then the currency pair can continue the started growth of quotations in the direction of the first calculated goal for this wave c, (C), located above the level of the 115th figure.
Targets for the downward wave option:
112.00 - 110.00
Targets for the upward wave option:
113.98 - 23.6% of Fibonacci
115.00
General conclusions and trading recommendations:
The pair USD / JPY continues to build the upward wave (C). Thus, the increase in quotations can continue within the wave a, in the future (C) with targets located near the calculated mark of 113.98, which corresponds to 23.6% of Fibonacci and above about 115 figures. The assumed wave b assumed a rather truncated form and could already be completed.
