Analysis of wave counting:

At the beginning of yesterday's European session, the USD / JPY pair was able to resume the expected downward movement and updated the minimum level reached on Monday at 110.32, followed by a decline below the level of until the end of the day. Thus, it can be assumed that the currency pair still remains in the final stage of the internal wave structure formation in wave c, in b, in a, and in (C). If this is the case, it seems that the development of the target area at 110.15 or a decrease to the level of the 110th figure will most likely lead to a price turn in favor of the dollar. At the same time, this indicates the beginning of the future wave within a and in (C).

Targets for a downward wave option:

110.14 - 61.8% on Fibonacci basis

Goals for the option with an upward wave:

113.59 - 161.8% Fibonacci retracement

113.88 - 11.4% by Fibonacci

General conclusions and trading recommendations: