Decline has a corrective nature | 28 April 2016
28 April 2016, USD/JPY
By two candles the pair has just blocked growth that has been lasteding for almost two weeks. This kind of an abrupt decline has a corrective nature, because growth was represented by the impulse wave i.
If this assumption is true, in the future we can expect formation of a correctional model - zigzag by default.
There is a small point, the price should not update the Low, otherwise the whole plan will go to the trash.
Thus, in this situation, we should just wait for a clearer picture.
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.
