Yesterday after a brief consolidation near the 77 figure level the USD/JPY currency pair resumed declining, having finished the day near the 76.70 level. Thus, given the current wave situation we might suppose that the price started to form the 5th wave within the downside section initiated August 4. At the same time, given the inner dimension of this downside section its first target might be located slightly lower than the August 1 high 76.25. If it is tested this will probably cause the yen to rebound significantly to the 78.00 level.
