FX.co ★ USD/JPY wave analysis for January 12, 2011

The USD/JPY currency pair did not make another attempt to overcome the correction level 50.5% and resumed growth, supposedly starting to form the 5th wave of the whole local uptrend, developing since December 31. Thus, at the moment its 4th wave looks complete. At the same time estimated target for this 5th, located near 84.30 is still in force.