FX.co ★ USD/JPY wave analysis for June 29, 2011

During yesterday’s trading the USD/JPY currency pair continues upside movement and tested the 81.25 level by the end of the day. At the same time the price formed a little more complicated 4th wave in the estimated c, and at the moment is moving in the direction of the target level at 81.35. Thus, if the situation follows the corrective scenario, after testing this target a decline to 80.50 might follow.