13.07.201717:38 Forex Analysis & Reviews: Wave analysis of the USD / JPY currency pair for July 13, 2017

Analysis of wave counting:

The pair USD / JPY started yesterday's trading with a downward movement, having lost about 100 bp. and broke through the level of 113th figure in the afternoon. Thus, it can be assumed that the currency pair continued to make attempts to complete the entire wave c, c, E, C, (B) and confirm the transition to the stage of formation of the future wave (C). At the same time, the currency pair retained the potential, allowing it to resume the growth of quotations, in connection with which the wave с, в с, в Е, в С, в (В), will take an even more complex and expanded form.

Objectives for a downward wave option:

111.98 - 38.2% by Fibonacci

111.24 - 50.0% by Fibonacci

Objectives for an upward wave option:

114.72 - 127.2% by Fibonacci

115.00

General conclusions and trading recommendations:

The tool continues to build the wave E, C, (B). In the framework of the construction of the wave c, c, e, c, c (B), the increase in quotations may still resume with targets near the estimated level of 114.72, which corresponds to 127.2% of Fibonacci. After the completion of the construction of this wave (possibly completed), the instrument can go to the stage of a long decline within the wave (C) with the first targets near the marks of 111.98 and 111.24, which corresponds to 38.2% and 50.0% by Fibonacci (the goals will be revised).