FX.co ★ Wave analysis of the USD/JPY pair for May, 13

The USD_JPY pair price has been consolidating all the previous day, being around the level of 93,000. It should be mentioned, that a prolonged correction has lowered the chances for a renewal of the downfalling trend in favour of the Japanese currency, but has not cancelled them yet. Thus, the low of the last Thursday can be still considered as the finishing of the 1st wave (or a) of an expected new descending part and the local maximum of Monday (93,50) – as its 2nd wave (or b). All in all, until the control level of 95,00 has not been hit, this variant of the events development will be up-to-date.