FX.co ★ Wave analysis of USD/JPY for May 21, 2010

The yen would not have been the yen if in the yesterday’s situation did not make an unpleasant surprise in the form of c-wave prolongation in b of the current correction. Moreover, judging by the inner wave structure this c in b at the moment looks unfinished and allows the formation of the 4th and the 5th waves in its structure. Taking the stated above into consideration, we can suppose, that USD_JPY price has a chance to deepen to the level of 88,75 (see the fig.). In such situation buys from this level seem attractive but rather risky.