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The price has approached a critical level

17 July 2015, USD/JPY

A strong ascending movement has stopped but the price has closely approached a critical level. Breakthrough of this level will cancel the plan implying the wedge and considered by us earlier.

But so far we assume that the wave 4 has completed its formation and in the nearest time we shall expect a decline within the frames of development of the wave 5.

Expecting this wave, we had opened Sell trade which is about to approach Stop Loss.

The price has approached a critical level

Vasiliy Lukin
FreshForex Analyst
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