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The wave [b] of (i) is being formed

03 November 2015, USD/JPY

The considered pair follows our scenario.

After formation of the wave [a] of (ii), correction started caused by development of the wave [b] of (ii).

At the moment, development of this wave looks unfinished, so in the future we expect continuation of the flat movement within the frames of development of this wave.

Thus, now we witness a continued development of thewave [b] of (ii) and it is too early to talk about buying or selling, but if you consider the whole picture, we can expect an upward exit from this correction.

The wave [b] of (i) is being formed

Vasiliy Lukin
Analyst of «FreshForex» company
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