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