Analysis of wave counting:

Given the high volatility of yesterday's trading, the currency pair USD / JPY was unable to determine the direction of the movement and finished the day near the level of the 107th figure. It can be assumed that the currency pair continued to make attempts to complete the 2nd wave and move to the stage of formation of the wave 3, a, 4, C, C, (B). At the same time, as noted earlier, the internal wave structure of the 5th wave, 5, 3, C, C, (B), which is not quite convincing, still allows the probability of falling quotations up to to the level of the 104th figure.

The objectives for the option with a downward wave:

106.07 - 423.6% of Fibonacci

105.22 - 523.6% of Fibonacci

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 in quotations may continue with the targets on the way to the level of 106.07, which corresponds to 423.6% of Fibonacci, within the framework of the construction of wave 2, a, 4, C, C, (B). After its completion, it is expected that the upgrade will resume with targets above 108 figures.