Analysis of wave counting:

In general, it is expected that the yesterday's USD / JPY trades started with a downward movement, losing about 40 percentage points in price and returned to the level of 106.65 in the afternoon. Thus, it seems that the currency pair remained in the stage of formation of the first generating waves in the composition of the future wave 5, 5, 3, C, C, (B). If this is so, then in the process of development of the internal wave structure of the wave 1, 5, 5, 3, C, C, (B), the currency pair will continue to decrease quotations in the direction of the level 106th figure.

The objectives for the option with a downward wave:

105.00 - 104.00

The objectives for the option with an upward wave:

107.42 - 38.2% of Fibonacci

108.00

General conclusions and trading recommendations:

The tool continues to complicate the downward trend section. The lowering of quotations may resume with the goals of about 105 and 104 figures, within the framework of the construction of wave 5, 5, 3, C, C, (B), since wave 4 assumed a very complicated form, completed its construction around the estimated mark of 107.42, which corresponds to 38.2% of Fibonacci. Further increase in quotations will lead to the need to refine the wave counting.