The wave ii is still being formed

03 June 2016, USD/JPY

We assume that by this point the first wave of a c correctional model has been formed. It is supposed take the form of a simple Zigzag. Basis on this assumption, I can conclude that a slight growth is expected in the near future. In the current situation it is better abstain from trading and wait for completion of the correction.

In general, the situation is bullish because after completion of the wave ii, I expected a long-lasting upward momentum within development of the wave iii.

Vasiliy Lukin
FreshForex Analyst
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