FX.co ★ USD/JPY Wave Analysis for August 22, 2011

On Friday USD/JPY managed to test the historic low of August 1, though in the second half of the day it returned to the levels of opening. Meanwhile despite hitting a new mark at 76.10 the wave picture shows a final ending of the second wave’s formation. If it is so, then the Friday minimum can be d-wave of a longer and more complex triangle structure in this 2nd wave. At the same time the assumed renewal of the pair rates within the limits of the future 3rd wave is still actual.