FX.co ★ USD/JPY wave analysis for May 27, 2011

In general, as expected, the USD/JPY continued the downside movement and lost 80 pips by the end of the day, thus having tested the 81.15 level. At the same time, the level of the 81 figure might be the target for this downside movement. If so, after it is tested the price may be back to the levels near 82.00. In the meantime, the general wave situation after May 5 has still been quite uncertain.