Analysis of wave counting:

In general, it is expected that at the beginning of yesterday's trading, the pair USD / JPY resumed the downward movement, having lost more than 90 bp and at the end of the day, broke through the minimum reached on August 1. Thus, we can assume that as a result of the price drop to the level of 109.85, the currency pair moved to the stage of formation of the 5th wave, 3rd, in the future C, E, (B). If this is the case, the currency pair has acquired the potential to continue its decline in the direction of targets for the entire 3rd wave, C, E, (B), located in a fairly wide price range between the levels of 109.80 - 108, thirty.

Targets for a downward wave option:

109.79 - 61.8% by Fibonacci

108.30

Targets for an upward wave option:

111.00 - 112.00

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 decline in quotations continues with targets near the level of 109.79, which is equivalent to 61.8% Fibonacci, and lower about 108 figures. An unsuccessful attempt to breach the level of 112.09 led to the completion of the construction of the correctional wave 2. The downward corridor preserves the prospects for constructing a downtrend section of the trend.