Bearish scenario continues to dominate

15 January 2016, USD/JPY

We assume that the considered pair continues to develop the wave iii of downward momentum, which, as we repeatedly pointed out, is obviously extended.

Currently the decline has stopped, because inside of the mentioned wave iii the fourth corrective wave is obviously being formed.

So, if this assumption is correct, in the near future we can expect resumption of impulse decline of the pair

Bearish scenario continues to dominate

Vasiliy Lukin
FreshForex Analyst
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