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In the final wave of the final diagonal triangle

04 May 2016, USD/JPY

After an abrupt declinem the pair began to rise, which was expected.

We assume that the upward movement has a corrective nature and is formed as part of the wave v of [v] end of the diagonal triangle. Based on this, we expectthe pair to grow a bit in the future. But then the decline is likely to continue, which will result in the next update of the Low.

So talking about purchases is too early, we need to wait to clarify the situation more or less, and only then begin to act.

Vasiliy Lukin
Analyst of «FreshForex» company
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