FX.co ★ Wave analysis of the USD / JPY currency pair for February 28, 2018

Analysis of wave counting:

Having started the yesterday's European session with an upward movement, the currency pair USD / JPY was able to add more than 80 percentage points in price and was able to work out the mark of 107.65 in the second half of the day worked. At the same time, it seems that the currency pair continued to make attempts to confirm the transition to the stage of formation of the first generating waves in the future wave 3, a, 4, C, C, (B). At the same time, the probability of an even more complicated internal wave structure of the wave 5, 5, 3, C, C, (B) and in the decline of quotations up to the level of the 104th figure still retains its relevance.

The objectives for the option with a downward wave:

106.07 - 423.6% of Fibonacci

105.22 - 523.6% of Fibonacci

The objectives for the option with an upward wave:

107.25 - 108.00

General conclusions and trading recommendations:

The tool continues to build a long-term uptrend. The decline in quotations may continue with the targets on the way to the level of 106.07, which corresponds to 423.6% of Fibonacci, within the framework of the construction of wave 2, a, 4, C, C, (B). If this wave is completed, then now the quotes may rise within the framework of the impulse wave 3 with goals that are much higher than the 108th figure.