Correctional drop

20 May 2016, USD/JPY

The price may prepare for a corrective decline, cause at the moment the upward momentum seems to be completely finished. But we do not exclude the fact that the pair will continue to move upwards, thus extending the fifth impulse wave.

Therefore, we should not rush into sales trying to benefit from a corrective decline. It is better to enter the market using pending orders set at a local Low either wait for a steady downward movement. This way we can avoid loss in case of unfavorable development of the situation.

Vasiliy Lukin
FreshForex Analyst
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