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Corrective decrease is likely to continue

09 June 2016, USD/JPY

The dollar is still unable or unwilling to find counterarguments to change emerging on a pair considered the situation. The Japanese currency is also not reluctant to force the issue, so that the pair is in a certain state of harmony and balance, from which output can happen in one or the other way. While the price stubbornly looking down, and there is very close to the critical level, the breakdown of which will force to reconsider the labeling, and perhaps the whole scenario. However, until that happens, we can suggest the following: Price will likely continue to decline and reach a critical level, thus we get a distinct zigzag as ii wave. The pair will travel to rapid growth impulse in the development of iii wave. In this case, the best option to open a deal will be setting a pending order (buy stop) on the chart at the red horizontal line level with a stop loss order at current Low.Corrective decrease is likely to continue

Vasiliy Lukin
Analyst of «FreshForex» company
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