Waiting for the third impulse wave | 08 June 2016
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.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
