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Analysis of wave counting:
Yesterday's attempt to resume the downward movement ended in failure and after testing the level of the 106th figure, the price of the currency pair USD / JPY rebounded to the level of 106.85 until the end of the day. At the same time, it seems that as a result of this price increase, the currency pair will still complicate the internal wave structure of the wave e, 4, 5, 3, C, C, (B). If this is the case, then in the process of completing this wave e, 4, 5, 3, C, C, (B), the currency pair can continue the growth of quotations and work out the mark of 107.40- 107.50, or even the level of 108.00.
The objectives for the option with a downward wave:
105.00
104.48 - 127.2% of Fibonacci
The objectives for the option with an upward wave:
107.50 - 108.00
General conclusions and trading recommendations:
The tool continues to complicate the downward trend section. The lowering of quotations may resume with targets near 105 figures and a design mark of 104.48, which is equivalent to 127.2% Fibonacci, within the framework of the construction of wave 5, 5, 3, C, C, (B), after the completion of the construction of the correctional wave 4, which took a very complex form and could become even more complicated with targets near the 107.50 and 108 figures.
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