Analysis of wave counting:

During the yesterday's Asian session, the pair USD / JPY began with a downward movement, losing about 100 pp and broke through the level of 111.50 in the afternoon. The resulting wave situation allows us to assume that as a result of this decline, the currency pair confirmed the transition to the stage of wave b formation, as part of the future wave (C). At the same time, the likelihood of resuming the decline in quotations and a significant complication of the internal wave structure of the wave c, C, E, (B) still remains relevant.

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 MACD divergence warned of the willingness of the instrument to move away from the highs reached, which is happening now.