We expect a corrective bounce
03 February 2016, USD/JPY
The pair has renewed decline that we expected and we assume that thus it began to form thewave [iii] of the downward momentum.
However, I think that the price will make a corrective upward bounce in the framework of the internal correction in the wave [iii ] in the near future.
So, to open short positions, we should wait for a more favorable price.
Thus, in the near future we expect a corrective pullback pair followed by a resumed impulse decline of the pair.
Vasiliy LukinAnalyst of «FreshForex» company
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