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FX.co ★ USD/JPY wave analysis for May 11, 2011

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Forex Analysis:::2011-05-11T07:59:50

USD/JPY wave analysis for May 11, 2011

USD/JPY wave analysis for May 11, 2011


The USD/JPY currency pair is slowly forming the inner wave structure of the current upside correction. At the same time, yesterday by the end of the trading day the price managed to overcome the a wave high of the estimated 2nd correction wave (in the 3rd or C), reached on Friday. Therefore, the c wave in this 2nd will probably develop in the direction of the estimated correction level 50.0% (81.15) or 61.8% (82.50).

Analyst InstaForex
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