FX.co ★ USD/JPY wave analysis. A weekly review.

USD_JPY has formed a wave structure which is peculiar by its multiplicity. i.e. on the one hand, the local maximum of May 13 looks as a peak of the of the correctional a-wave, on the other hand, the expected b-wave has formed an excessively prolonged inner c-wave. Thus, if in the future the reappearance of the trend against the yen upwards is predicted, a soon finishing of the price deepening can be expected and a development of a new uprising part as well. If currently we are observing the attempt to form a trend in favour of the Japanese yen, the price in this case should grow to the levels found above the mentioned local maximum of May 13 in the limits of the c-correctional wave. That is why we can assume the ascend of the price to the levels of the 93rd figure; in any case of the further situation development.