FX.co ★ USD/JPY wave analysis for April 19, 2011

Yesterday the USD/JPY continued to decline slowly and stopped near the 82 figure later in the day. As a result of the continuing decline, the price forms extensions in the complex wave structure of the estimated correction wave a, or in the 1st wave of the future new downtrend section. At the same time, given the inner dimension of this 1st wave (or a) we might allow a possibility of its soon completion, which is supported by the MACD divergence.