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The wave ii has probably started to be formed

01 June 2016, USD/JPY

Probably, formation of the wave i, is not over yet. Thus, the price has grown and yesterday we got the final form of this wave i. At the moment, drop is caused by the correctional wave ii.

If this assumption is true, in the near future we can expect continued drop within the frames of the considered correction. In this situation, you can try cautious sales with Stop Loss set at a local High and target 50% Fibo from previous growth.

The wave ii has probably started to be formed

Vasiliy Lukin
FreshForex Analyst
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