FX.co ★ The USD/JPY wave analysis for January 3, 2011

On Friday the USD/JPY resumed declining versus the dollar and tested the 81.00 level in the evening. At the same time, as mentioned before, the 5th wave might prolong or the 3rd wave can become more complex. However, oversold indicators support the prediction of upward correction or resumption of the trend against the yen.