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Correction is developing

26 October 2015, USD/JPY

We assume that in this pair formation of the wedge has completed as the first wave of downward momentum.

In this case, the wave [v], turned to be truncated, indicating a growing strength of bulls that actually is currently observed.

However, the growth observed at the moment has obviously a corrective nature.

So, if this assumption is correct, in the near future we can anticipate continuation of correction, which is expected to take the form of a simple zigzag.

Apparently It is a development of correction.

Vasiliy Lukin
Analyst of «FreshForex» company
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