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The correction is likely to take the form of zigzag

The correction is likely to take the form of zigzag | 02 June 2016

02 June 2016, USD/JPY

The upward momentum repersented by the wave i has been finished just two days ago. This was followed by an abrupt decline, which is being observed at the moment.

Probably, the downward movement is caused by beginning of development of the correctional wave ii. In this case, in the near future we expect a slight surge followed by another drop.

Thus, the correction pattern is likely to take the form of a simple zigzag, and upon its completion, we should prepare Buy trades with a view to a third wave of the rising impulse.

Vasiliy Lukin
FreshForex Analyst
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