Analysis of wave counting:

The downward movement, which began at the beginning of the Friday Asian session, could not get further development and after the decline to 111.65, the pair USD / JPY spent the entire day trading near the level of the 112th figure. Thus, the emerging wave situation suggests that the currency pair continues to make attempts to form the first generating waves in the future wave (C). At the same time, the currency pair retained the potential for the resumption of a decline in quotations to the level of 107.00 and a significant complication of the internal wave structure of the wave c, C, E, (B).

Targets for the downward wave option:

107.00 - 106.00

Targets for the upward wave option:

113.00 - 114.00

General conclusions and trading recommendations:

The instrument complicates its wave structure, which can now require the introduction of additions and adjustments at any moment. The assumed wave C, E, (B), presumably, completed its construction. If this is the case, then now the construction of the first waves in the composition of the future (C) with goals between 113 and 114 continues. The strong divergence of MACD warns of the readiness of the tool to move away from the peaks achieved.