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Zigzag is still being formed

Zigzag is still being formed | 17 February 2016

17 February 2016, USD/JPY

This pair has not sprung a surprises as well. It is likely to continue development of correction boosted by the wave ii of [iii] the downward momentum.

The mentioned corrective wave will probably take the form of zigzag. Afterwards, we expect the price movement as roughly indicated on the chart below.

In this situation, you can try to trade inside this zigzag, but it is very risky

Zigzag is still being formed

Vasiliy Lukin
FreshForex Analyst
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