Analysis of wave counting:

During the yesterday's trading, the pair USD / JPY continued its slow development of the upward movement, adding about 60 percentage points in price and managed to work out the level of 106.70 in the middle of the day. Thus, the emerging wave situation suggests that the currency pair made an attempt to complete the formation of the wave 4, 5, 5, 3, C, C, (B). If this is the case, then practically from the maximum already reached yesterday (or slightly higher), the currency pair may resume the decline of quotations and at least update the Friday's minimum (105.50), having moved to the stage of formation of the wave 5, 5, 5, 3, C, C, (B).

The objectives for the option with a downward wave:

106.07 - 423.6% of Fibonacci

105.22 - 523.6% 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 a long-term uptrend. All the wave counting has undergone major changes. The decrease of quotations may continue with the targets near the levels of 106.07 and 105.22, which corresponds to 423.6% and 523.6% of Fibonacci, within the framework of the construction of the complicated wave 5, 5, 3, C, B, (B).