FX.co ★ Wave analysis of USD/JPY for July 29, 2010

The USD/JPY price had hit the correctional level of 61.8%, which favored the beginning of quotations movement downwards, which got to quite dynamic by the end of Wednesday. Along with the current situation, we can suppose that the correctional 4th wave in C has finished its development and now is forming the inner wave structure of the 5th wave in C in the direction of the first probable target positioned around the level of 86.00.