3:21 PM
Wave Analysis 19.03.2015 (USD/JPY)
FXTM Online Analysis Department.
USD JPY, “US Dollar vs Japanese Yen”
After finishing horizontal triangle inside wave 5 of (5) of [5], the price hasn’t been able to reach a new high. Probably, the pair has formed a truncation inside the fifth wave, thus completing a large ascending impulse, which started in November of 2011. In the nearest future, the downtrend is expected to continue.
Probably, the pair has finished wave 5 of (5) of [5] with a truncation and hasn’t reached a new high. Right now, the price is forming a large impulse (1) of [A]: it has already completed wave 1 of (1) and at the moment is forming a correctional wave 2 of (1). In the nearest future, the price is expected to complete this correction and continue falling.
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