Wave analysis of the USD/JPY currency pair. Weekly review
May 14, 2018 11:21 pmVideo
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Analysis of wave counting:
The incomplete calculation target in the area of 110.25 during the trades of last week did not allow the USD/JPY pair to reverse the dollar and on Thursday the price returned to the previously reached highs near the level of the 110th figure. At the same time, it can be assumed that the currency pair has retained the potential that allows it to go into the stage of formation of the first generating waves in the future wave 5, in c, in B, in (B). At the same time, the probability of the quotations rising to the level of 110.25, or even to 110.50, with the prospect of further complicating the internal wave structure of the entire 4th wave, in c, in B, in (B), also has not lost its relevance .
Targets for selling:
108.10 – 38.2% by Fibonacci
106.77 – 23.6% by Fibonacci
103.55 – 261.8% by Fibonacci
Targets for buying:
110.26 – 61.8% by Fibonacci
111.59 – 76.4% by Fibonacci
General conclusions and trading recommendations:
The USD/JPY pair continues the construction of the assumed wave 4, in c, in B, in (B). Now it is recommended selling the currency pair with the targets located near the estimated marks 108.10 and 106.77, counting on the beginning of the wave 5. The breakthrough of the mark 110.26 will lead to the complication of wave 4 and further increase of quotations with the targets being about 111.59 .
The material has been provided by InstaForex Company – www.instaforex.com
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