FX.co ★ Wave analysis of the USD / JPY currency pair for April 26, 2018

Analysis of wave counting:

In the wake of the overall strengthening of the dollar, yesterday's USD / JPY trades started with an upward movement, having fixed a correction level of 50% and was able to work out the mark of 109.45 at the end of the day. Thus, the current wave pattern suggests that the currency pair still remained in the formative stage of the heavily extended wave 5, c, 4, C, C, (B). If this is the case, then from the high of the past day, or a little higher, the currency pair will start lowering the quotes and mark the beginning of the future wave 5, C, C, (B).

The objectives for the option with a downward wave:

106.77 - 23.6% of Fibonacci

105.00

The objectives for the option with an upward wave:

109.18 - 50.0% of Fibonacci

110.00

General conclusions and trading recommendations:

The tool continues to complicate the downward section of the trend and wave counting has suffered some changes. The lowering of quotations may begin with the goals, which are about 105 and 104 figures, within the framework of the construction of wave 5, C, C, (B). Wave c, 4 continues to become more complicated with targets located near the calculated mark of 109.18, which corresponds to 50.0% of Fibonacci, and above, about 110 figures.