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Waiting for the third impulse wave

08 June 2016, USD/JPY

Dollar after a sharp wave of easing, immediately began to rectify the situation. At first, managed to play a small part of the price of the lost space, but yesterday's trading day the bulls returned back to the starting point. It can be assumed that the first and second waves have been formed in this way, the nascent upward momentum and so today a sharp increase can start within the formation of the third wave. In this case, before opening a deal you had better wait for the breakdown of local High and after that to enter the market. Otherwise, it is better to choose a bystander position to clarify the wave pattern.Waiting for the third impulse wave

Vasiliy Lukin
FreshForex Analyst
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