USD/JPY Forecast: failed to breakout above the upper trend line

jy-l4Wave Analysis

During the previous trading day, the impulsive wave (5) failed to breakout above the upper trendline, instead the pair corrected it self to the lowerside and is still showing signs of further corrections to the lowerside. We expect the current bearish price price rally to be a mere correction of the impulsive wave (5) but should not go beyond the supportive trendline. This view can only be invalidated in case the price break below the supportive trendline, or in case the price breaks above the upper trendline.

Trade Recommendations:

Wait

Origin: FreshForex

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