FX.co ★ Wave analysis of the USD / JPY currency pair for March 9, 2018

Analysis of wave counting:

The low activity of yesterday's trading did not allow the currency pair USD / JPY to determine the direction of the movement, which spent the past day within a very narrow range, with a maximum amplitude of price changes of less than 40 percentage points. It can be assumed that the currency pair remained in the stage of formation of the wave 3, 3, 5, 3, C, C, (B), in which its internal wave 4 took a very long form in time. If this is so, then before specifying the beginning of the future wave 4, 3, 5, 3, C, C, (B), the currency pair may resume the decline of quotations and yet to work out the level of the 105th figure.

The objectives for the option with a downward wave:

105.00 - 104.00

The objectives for the option with an upward wave:

107.25 - 108.00

General conclusions and trading recommendations:

The tool continues to build a long-term uptrend. The decline of quotations may resume with targets of about 105 and 104 figures, within the framework of the construction of wave 3, 5, 3, C, C, (B). After the end of this wave, the quotations may begin to rise within wave 4, 3, 5, 3, C, C, (B) with targets around 107 figures.