FX.co ★ USD/JPY wave analysis for August 18, 2011

During yesterday’s trading the USD/JPY currency pair started to decline to August 11 low. At the same time, by the end of the trading the price did not manage to test the 76.33 level. As a result of such downside pressure current situation can be interpreted either as accumulation of potential before a dynamic decline within the future 3rd wave or as careful selling of the yen before a significant increase in favour of the dollar.