Perhaps, the upward impulse is not over yet | 16 May 2016

16 May 2016, USD/JPY

The flat is caused by formation of the fourth wave of the rising impulse.

However, the chart clearly shows that in the course of this correction the price has updated local High, and it may point to the fifth wave of the upward momentum.

In this case, the impulse will be fully completed and the pair may begin to decline within a deeper correction. Not to fall into this decline, but at the same time do not miss the opportunity to capitalize on further growth of the pair, I would recommend to put a pending Buy order slightly above High 109.60

Vasiliy Lukin
FreshForex Analyst
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus