The pair under consideration also forms a kind of correctional structure. But in contrast to the situation with the euro and the pound, the price movement is much larger here. For now, the development of a large zigzag with double zigzags as wave b is assumed. If this assumption is correct, then wave C is expected to form in the near future.

In zigzags the third waves, which is the indicated wave C, are formed in an impulsive style, which means that in the near future we can see a good impulsive decline in the pair.

Investment idea: sell 109.30, stop loss 109.50, take profit 106.50.