28 July 2016, USD/JPY
After formation of correction in the form of a simple zigzag, the pair has rushed up sharply, indicating that its intend to go to the ascending impulse wave iii, but nothing of the kind took place. Having failed to develop success, bulls gave up. As a result, the price slowly crawled almost to the starting point.
It is possible that wave iii is going to be extended and that it has the two internal waves - one and two. If this assumption is true, within the near future, beginning of a long impulse growth is expected.