Wedge is probably being formed

13 July 2015, USD/JPY

The price is still leaping and internal wave structure is correctional.

Upon that, a descending direction obviously dominates.

We don't have to be confused thinking that we face correction. Initial horizontal triangle – wedge – also has a form of 3 wave structure.

So we think now the wave 4 of the wedge is completing.

If our assumption is correct, in the nearest time we shall expect one more bearish wave .

Wedge is probably being formed .

Vasiliy Lukin
FreshForex Analyst
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