FX.co ★ Wave Analysis of the USD/JPY Currency Pair for August 30, 2010

On Friday, the USD_JPY price was forming the expected upside correction versus the decreasing part of the trend, taking start on July 28. Besides, considering the ratio of this correction waves it can be assumed that the rates will grow to the direction of the level 86,40. However, taking into account the indicators’ overbought position it should not be excluded that the declining trend versus the US dollar can renew. Anyway, a very difficult wave image of the expected 5th wave suggests consideration of such future for the currency pair.