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We expect development of the wave ii to continue

27 May 2016, USD/JPY

At the moment the pair probably continues correction within the frames of the wave ii of the emerging upward impulse. To finally complete development, this wave needs to make at least one drop, which may happen in the near future.

Therefore, it is worthwhile to wait when it happens, and then the price will start to grow. Then you can try to re-open a Buy trade in order to play on a move of the wave iii of the rising impulse.

Now it is better to stay out of the market.

We expect development of the wave ii to continue

Vasiliy Lukin
FreshForex Analyst
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