Analysis of wave counting:
Having renewed the descending movement at the beginning of the Friday's trading, the pair USD / JPY was able to update the reached minimum from the previous day, losing about 150 pp and worked out the mark of 108.30. Thus, it seems that the currency pair has completed the process of forming the wave c, b, a, (C), while clarifying the wave structure of its internal wave c. If this is the case, then from the minimum of the last day of the past week, the currency pair can perform a turn in favor of the dollar and yet designate the beginning of the future wave c, a, (C).
Targets for the downward wave option:
108.28 - 100.0% of Fibonacci
Targets for the upward wave option:
113.59 - 161.8% of Fibonacci
113.88 - 11.4% of Fibonacci
General conclusions and trading recommendations:
The tool continues to build the uptrend section of the trend. The increase in quotations may resume with the targets near the marks of 113.59 and 113.88 (these goals will be further specified), which corresponds to 161.8% and 11.4% of Fibonacci, within the wave c, a, (C ). Wave b, a, (C) supposedly completed its construction or can complete it near the mark of 108.28, which corresponds to 100.0% of Fibonacci.