FX.co ★ Wave analysis of the USD / JPY currency pair for October 3, 2017

Analysis of wave counting:

Yesterday, the pair USD / JPY was within the narrow price range, limited to the level of the 113th figure and the mark of 112.50. At the same time, it can be assumed that the currency pair continued to remain in the stage of formation of the first generating waves, in the composition of the wave c, in the future wave (C). If this is so, wave b, (C) will not take an even more complicated form, then the currency pair will resume the growth of quotations in the direction of the level of 116.00, or even 117.00.

Targets for the downward wave option:

111.43 - 23.6% of Fibonacci

110.64 - 38.2% of Fibonacci

Goals for the upward wave option:

113.00 - 114.00

General conclusions and trading recommendations:

The tool continues to complicate its wave structure, which can now require the introduction of additions and adjustments at any time. Now the wave (C) is being constructed with the goals between 113 and 114 figures. Also, it is now possible to reduce quotations within the corrective wave b (if the wave takes a more complicated look), with targets near the marks of 111.43 and 110.64, which is equivalent to 23.6% and 38.2% of Fibonacci.