USD/JPY Forecast: expect a massive drop in price

jy-l4Wave Analysis:

Despite yesterdays momentum to the lower side, we’re yet to see an active momentum to the lower side, instead, at the moment, there a slight corrective rally to the upper side but is still below the upper trend line. As long as the price remains below this trend line, we expect a massive drop in price but should not go beyond the lower trend line. The anticipated bearish price rally is merely the continuation of the impulsive wave (E) and may break below the lower trend line acting as the bottom to the falling channel. If the price can break above the upper trend line, then a rise towards 118.00 is expected..

Trade Recommendations:

We’re still short

We're still short

Origin: FreshForex

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