FX.co ★ USD/JPY wave analysis for March 22, 2011

After dynamic activity last week, yesterday the USD/JPY took a pause and was trading near the 81 figure level during the whole day. At the same there is still a possibility for the downside movement to resume and the inner wave structure of the 5th wave in the 3rd to be formed. If so, the price still might continue the downtrend in the direction of the previous week low, located near the 77.00 level.