Analysis of wave counting:

On the last day of the past week, the pair USD / JPY failed to reverse and despite the preserved divergence of MACD, it broke through the mark of 108.75 in the second half of the day. It can be assumed that the currency pair was in the final stage of the formation of the 5th wave, 1st, C, E, (B). If this is the case, then before the start of the 2nd wave, C, E, (B), the currency pair will continue to decline quotations and fulfill another calculation target, located near the mark of 108.30.

Targets for the downward wave option:

108.30 - 100.0% by Fibonacci

Goals for the upward wave option:

109.79 - 61.8% by Fibonacci

111.00 - 112.00

General conclusions and trading recommendations:

The instrument completed the construction of wave E, C, (B). Within the framework of the construction of wave 5, 1, C, E, (B), the reduction of quotes continues with the targets near the calculated mark of 108.30, which is equivalent to 100.0% of Fibonacci. After the completion of the construction of this wave, the quotations will begin to rise within the framework of the correctional 2, C, E, (B) with targets located about 111 and 112 figures.