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Dollar is not ready to a further consolidation yet

31 July 2015, USD/JPY

After it has steadily continued its attack against the Japanese currency on the local price level, the dollar has suddenly stopped to move and gave up.

It is possible that there are no buyers yet, so the pair is not ready to continue its upward movement

Thus, it is possible that in front of us, there is a part of the correctional wave 2.

If this is so, in the future we can expect a decline within the framework of this correction, while the wave 2 will obviously take the plane form.

Dollar is not ready to a further consolidation yet

Vasiliy Lukin
FreshForex Analyst
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