FX.co ★ USD/JPY wave analysis for March 28, 2011

During Friday’s trading the USD/JPY made an attempt to break out of the narrow horizontal corridor. At the same, in general the wave situation did not change significantly and still allows the resumption of downside movement in favour of the yen, in the direction of the 79 figure levels. If so, at the moment the price is moving in the range of the 2nd wave, in the 5th (in the 3rd) of the whole downtrend section initiated March 11.