An ascending impulse is on

11 May 2016, USD/JPY

The pair predictably continued to grow. We assume it is taking place within the frames of the upward impulse.

The chart below clearly shows that at the moment the price has apparently completed the third wave and started to form the correctional fourth wave. In the future we expected growth to resume due to development of the fifth wave, which is final for the current impulse. So, our trades shall remain open, and if possible it is better to transfer them to breakeven.

Vasiliy Lukin
FreshForex Analyst
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