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Situation remains bearish tone

Situation remains bearish tone | 16 October 2015

16 October 2015, USD/JPY

The dollar seems to be artificially held by the sharp drop against the Japanese currency.

Every sharp splash is immediately responded by buyout.

Impulse decline was halted and the price has vehemently started to play it back.

On the basis of this, in the future it may continue to grow, because downward of the price is not allowed, even though the wave picture is bearish and a wave [v] of the downward momentum looks clearly unfinished.

So, meanwhile better is to refrain from taking actions.

The situation remains bearish tone.

Vasiliy Lukin
FreshForex Analyst
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