09.02.201810:41 Forex Analysis & Reviews: Wave analysis of the USD / JPY currency pair for February 9, 2018

Analysis of wave counting:

Only at the beginning of yesterday's European session, the pair USD / JPY was able to start the expected downward movement, having lost about 120 percentage points from the already achieved local maximum and worked out the mark of 108.60 at the end of the day. It can be assumed that the currency pair has moved to the final stage of the formation of the wave 5, c, b, a, (C). If this is so, then before the beginning of the future wave c, a, (C), the currency pair will continue to decline quotations to around 108.30, or even to 107.40.

The objectives for the option with a downward wave:

108.28 - 100.0% of Fibonacci

107.41 - 127.2% of Fibonacci

The objectives for the option with an upward wave:

111.01 - 50.0% of Fibonacci

111.89 - 38.2% of Fibonacci

General conclusions and trading recommendations:

The tool continues to build the uptrend section of the trend. The increase in quotations may resume with the targets near the marks of 111.01 and 111.89, which corresponds to 50.0% and 38.2% of Fibonacci, within the framework of the construction of the complicated wave 4, c, b, a, (C). Within the limits of wave 5, c, b, a, (C), the decrease in quotations may continue with the targets being about 108.28 and 107.41, which equals to 100.0% and 127.2% of Fibonacci, and below.