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13 April 2016, USD/JPY

After an active drop the pair has apparently decided to take a timeout.

This is indicated by absence of directional movement, since the price simply can not go down physically.

Probably this way it has completed formation of the wave iii of [v] of the descending impulse and the pair gradually turned to a correction.

If this assumption is correct, in the future we can expect development of correction, whereupon the pair will apparently resume its decline in the framework of this downward momentum.

I would not recommend trading in this situation.


Vasiliy Lukin
Analyst of «FreshForex» company
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