22.01.201809:49 Forex Analysis & Reviews: Wave analysis of the USD / JPY currency pair. Weekly review

Analysis of wave counting:

On Wednesday, having failed to fulfill the target goal in the area of the level of 110.15, the pair USD / JPY began a pullback from the already reached minimum, while adding about 130 pp in price. Thus, the emerging wave situation suggests that the currency pair remained in the final stage of the formation of the wave c, b, a, (C). If this is the case, then after working out the correctional level of 61.8%, or even the level of the 110th figure, the currency pair can resume the growth of quotations and thereby designate the beginning of the future wave c, a, (C).

The targets for the downward wave option:

110.14 - 61.8% of Fibonacci

109.06 - 76.4% of Fibonacci

The targets for the upward wave option:

115.43 - 61.8% of Fibonacci

116.32 - 76.4% of Fibonacci

General conclusions and trading recommendations:

The pair USD / JPY continues to build the upward wave (C). Thus, the increase in quotations may resume within the limits of wave c, a, (C) with targets located near the calculated marks of 115.43 and 116.32, which corresponds to 61.8% and 76.4% of Fibonacci (these goals will be reviewed). The assumed wave b, a, (C) for the time being continues its construction, having complicated its internal wave structure, with the targets located near the marks of 110.14 and 109.06, which is equal to 61.8% and 76.4 % of Fibonacci.