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The price has approached a critical level

26 May 2015, USD/JPY

26 May of 2015, USD/JPY

After quite along time in flat, bulls decided to enhance their actions.

As the result of this, the price has reached a critical level. This level won't be broken if the plan will come into effect which closes development of the wave ii of emerging descending impulse.

Until it happens, we keep to our expectation regarding an emerging descending impulse.

So, in the nearest time we expect development of the wave iii of descending impulse. Breakthough of a horizontal line would cancel this scenario.

The price has approached a critical level

Vasiliy Lukin
Analyst of «FreshForex» company
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