22 April 2016, USD/JPY
Now we can say that reversal has happened here.
This means that formation of the downward momentum has been successfully completed.
Now, we assume a rising momentum to be formed, but so far we cannot identify this wave, because the upward movement looks to run without correction.
Therefore, opening positions in the current situation is not desirable, since correction can start and that will inevitably leads to loss.
I would recommend monitor the movement until there is more or less clear movement, and at that moment we should look for the opportunities to open positions
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