Analysis of wave counting:

During yesterday's trading, the attempt to resume the upward movement ended in failure and until the end of the day, the price for the pair USD / JPY returned to the levels of the opening of the European session. At the same time, it can be assumed that the currency pair will continue to fall below the minimum reached on July 24, and thereby confirm the transition to the stage of formation of the third wave, as part of the future C, E, (B). At the same time, the probability of the growth of quotations to the level of 112.55 (or even to the level of the 113th figure) and the significant complication of the internal wave structure of the 2nd wave, C, E, (B) remains.

Targets for a downward wave option:

110.77 - 127.2% by Fibonacci

110.20 - 161.8% by Fibonacci

Targets for an upward wave option:

112.09 - 38.2% by Fibonacci

112.55 - 50, 0% by Fibonacci

General conclusions and trading recommendations:

The instrument completed the construction of the wave E, C, (B). Within the framework of the construction of wave 3, C, E, (B), the decrease in quotations may continue with targets near the calculated marks of 110.77 and 110.20, which is equivalent to 127.2% and 161.8% of Fibonacci. An unsuccessful attempt to break the mark of 112.09 could lead to the completion of the construction of the correctional wave 2.