Analysis of wave counting:

Having started the yesterday's trading with the upward movement, the currency pair USD / JPY, however, failed to test the level of the 108th figure and rolled back to the mark of 107.30 at the end of the day. Thus, the emerging wave situation allows us to assume (with considerable stretch) that after working out on February 16, the 105.55 currency pair makes attempts to complete the process of formation of the entire wave 5, 3, C, C, (B) and designate the beginning of the future wave 4, C, C, (B). At the same time, the currency pair retained the potential for resuming the decline in quotations to the level of 104.00 and further complicating the internal wave structure not only of the wave 5, 5, 3, C, C, (B), but it is also possible for this entire wave 5, 3, C.

The objectives for the option with a downward wave:

106.07 - 423.6% of Fibonacci

105.22 - 523.6% of Fibonacci

The objectives for the option with an upward wave:

107.25 - 108.00

General conclusions and trading recommendations:

The tool continues to build a long-term uptrend. The lowering of quotations may resume with targets near the mark of 106.07 and 105.22, which corresponds to 423.6% and 523.6% of Fibonacci, within the framework of the construction of a complicated wave 5, 5, 3, C, B, (B). At the moment, the quotes continue to rise, which may be a future wave 4, C, C, (B).