FX.co ★ Wave analysis of the USD/JPY currency pair for November 27, 2017

Analysis of wave counting:

On the last day of the previous week, the USD/JPY pair continued its slow departure from the lows reached on Thursday and at the end of the trading session was able to work out the mark of 111.60. The resulting wave situation suggests that, despite the remaining potential for the resumption of the decline in quotations to the area of the mark 110.15, the currency pair nevertheless made an attempt to complete the process of forming the wave c, in b, in a, in (C) and marked the beginning the future wave c, in a, in (C).

Targets for a downward wave option:

111.01 - 50.0% by Fibonacci

110.15 - 61.8% by Fibonacci

Targets for an upward wave option:

115.00 - 117.00

General conclusions and trading recommendations:

The trading instrument continues to build the upward section of the trend. Now the wave (C), its internal wave b, is being continued in a, with targets located near the estimated marks of 111.01 and 110.15, which corresponds to 50.0% and 61.8% of Fibonacci. After the completion of this wave is expected to resume the increase in quotations within the wave c, in a, in (C) with targets located above 115 figures.