Analysis of wave counting:
After a brief delay at the beginning of last week, the currency pair USD / JPY managed to resume the expected downward movement and finish Friday's session by working out the mark of 105.25. It can be assumed that the currency pair confirmed the transition to the final stage of the formation of the wave 5, 3, c, B, (B). If this is so, then, while maintaining the potential for reversal and the formation of the future wave 4, c, B, (B), the currency pair may continue to decline quotations up to the level of the 102nd figure.
The objectives for the option with the construction of a downward wave:
105.59 - 200.0% of Fibonacci
104.00 - 102.00
The objectives for the option with the construction of an upward wave:
108.42 - 127.2% of Fibonacci
110.00
General conclusions and trading recommendations:
The currency pair USD / JPY continues the construction of the supposed wave (C). Thus, the lowering of quotations may continue within the framework of wave 5, 3, c, B, (B) with targets below the estimated level of 105.59, which equates to 200.0% of Fibonacci, about 104 and 102 figures.
