FX.co ★ USD/JPY wave analysis for May 9, 2011

During Friday's trading the USD/JPY currency pair could not develop the upside movement from Thursday's lows and traded in the range near the 80.50 level. At the same time, such weak growth can allow the yen to resume its recovery. If so, the 3rd wave (or C) will become more complex and continuous, and last Thursday's low (80.50) will be the top of the 1st wave in this 3rd (or C).