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Formation of the third impulse wave has started

Formation of the third impulse wave has started | 28 December 2015

28 December 2015, USD/JPY

Bears managed to push the price under the local Low, which indicates that we currently witness development of the wave iii of downward momentum.

In the near future the price is likely to quickly return to the broken level, from where it will continue to move down at faster pace.

Thus, in the near future we expect momentum decline of the pair associated with development of the wave iii.

Formation of the third impulse wave has started

Vasiliy Lukin
FreshForex Analyst
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