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Decline has a corrective nature

28 April 2016, USD/JPY

By two candles the pair has just blocked growth that has been lasteding for almost two weeks. This kind of an abrupt decline has a corrective nature, because growth was represented by the impulse wave i.

If this assumption is true, in the future we can expect formation of a correctional model - zigzag by default.

There is a small point, the price should not update the Low, otherwise the whole plan will go to the trash.

Thus, in this situation, we should just wait for a clearer picture.

Vasiliy Lukin
Analyst of «FreshForex» company
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