Wave Analysis 17.03.2015 (USD/JPY)

FXTM Online Analysis Department.

USD JPY, “US Dollar vs Japanese Yen”

The price is moving sideways, so we have to change the structure of wave 4 of (5) of [5], which may be taking the form of horizontal triangle. In the nearest future, the market may continue growing and form wave5 of (5) of [5].

Most likely, the pair is forming a descending zigzag [e] of 4 of (5) inside horizontal triangle 4 of (5) of [5]. In the nearest future, the pair is expected to complete this whole structure and continue growing.