FX.co ★ Wave analysis of the USD / JPY currency pair for October 5, 2017

Analysis of wave counting:

Only after the decline in the middle of the last day to 112.30, the pair USD / JPY was able to designate the expected upward movement and by the end of the auction it worked out the level of 112.90. It can be assumed that the currency pair still remained in the stage of formation of the internal wave structure of the wave c, c, in the future (C). If so, the currency pair retained the potential, allowing it to continue the growth of quotations to the level of 115th or even 117th figure.

Targets for the downward wave option:

111.43 - 23.6% of Fibonacci

110.64 - 38.2% of Fibonacci

Goals for the upward wave option:

113.53 - 38.2% of Fibonacci

115.00 - 117.00

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 targets near the 113.53 mark, which corresponds to 38.2% of Fibonacci and above about 115 and 117 figures. Correction wave b, in the future (C), took a rather truncated form.