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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.

We expect a corrective bounce

Vasiliy Lukin
Analyst of «FreshForex» company
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