Stay 
Trading Conditions
Products
Tools
Analysis of wave counting:
Yesterday, the pair USD / JPY held within a narrow price range, trading between the levels of 107.20-107.50. The resulting wave situation still allows us to assume that the currency pair remained in the stage of formation of the first generating waves in the composition of the future wave 1, 5, C, C, (B). At the same time, under the current conditions, the currency pair retains the potential for the resumption of the growth of quotations to the level of 108.25 and even more complication of the internal wave structure of the entire wave 4, C, C, (B).
The objectives for the option with a downward wave:
106.00 - 23.6% of Fibonacci
105.00
The objectives for the option with an upward wave:
107.55 - 50.0% of Fibonacci
108.24 - 61.8% of Fibonacci
General conclusions and trading recommendations:
The tool continues to complicate the downward portion of the trend, wave counting has suffered some changes. The decline of quotations may resume with targets, which are about 105 and 104 figures, within the framework of the construction of wave 5, B, C, (B). Wave 4 took a very complicated look and could complete its construction around the estimated mark of 107.55, which corresponds to 50.0% of Fibonacci.
InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.
