FX.co ★ Wave analysis of the USD/JPY currency pair for January 15, 2010

Having described the assumed fourth b c wave at the USD/JPY currency pair chart, the yen continued to move to the significant level of 90.55. Because of it, it is possible to expect the price uptrend and the first waves of a new cycle of the US dollar strengthening formation after probable workout. At the same time, we should pay attention on variant, according to which the US dollar will strengthen further. This possible situation development will slight change the current wave situation, which has existed since January 4 and can lead to the price sideways movement.

Regards,

analyst A. Dneprovskiy