Correction | 13 April 2016
13 April 2016, USD/JPY
After an active drop the pair has apparently decided to take a timeout.
This is indicated by absence of directional movement, since the price simply can not go down physically.
Probably this way it has completed formation of the wave iii of [v] of the descending impulse and the pair gradually turned to a correction.
If this assumption is correct, in the future we can expect development of correction, whereupon the pair will apparently resume its decline in the framework of this downward momentum.
I would not recommend trading in this situation.
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.
