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In the fifth wave of downward momentum

18 March 2016, USD/JPY

Finally, the considered pair has showed something we had been long expecting, the triangle was broken down, which indicates that correction boosted by the wave [iv] is over now.

Now, perhaps, the wave [v] began to form, which can be limited by a slight update of the Low.

After formation of horizontal triangles, further movement is not strong and extended.

So, we should be very attentive and put a protective stop loss after the price movement at every opportunity

Vasiliy Lukin
FreshForex Analyst
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