Correction | 24 May 2016
24 May 2016, USD/JPY
We assume that after the completion of the descending impulse the diagonal triangle has been formed, the pair started to generate upward momentum.The wave i of the upward momentum looks completely formed, so current drop I treat as correction as well as the wave ii.
Probably, a correctional decline is not over yet, so in the near future, the drop will continue. Upon update of the local High, I will open Buy transactions.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
