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Ongoing development of wave ii

Ongoing development of wave ii | 25 May 2016

25 May 2016, USD/JPY

Perhaps at the moment, after completion of the impulse in the wave i, we see development of a correction.

We assume that this correction takes the form of a simple Zigzag and for its final completion the price needs to drop. So, if this assumption is true, in the near future we can expect a corrective decline of the pair, in which the wave ii of the upward momentum will be finally formed.

Once this wave is formed, we should look for good Buy entry points

Vasiliy Lukin
FreshForex Analyst
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