Wedge is probably being formed | 13 July 2015
13 July 2015, USD/JPY
The price is still leaping and internal wave structure is correctional.
Upon that, a descending direction obviously dominates.
We don't have to be confused thinking that we face correction. Initial horizontal triangle – wedge – also has a form of 3 wave structure.
So we think now the wave 4 of the wedge is completing.
If our assumption is correct, in the nearest time we shall expect one more bearish wave .
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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.
