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The pair has reached the area of support

27 April 2015, USD/JPY

The pair has reached the area of support 4 hours’ chart of USDJPY. The pair has reached the area of support which had been formed by the line of the week’s supertrend line and level (0/8). This is a rather strong support area from which you can expect renewal of growth of pair. The intermediate level of resistance (2/8) is the target for growth. Only once the price breaks through and gets consolidated below (0/8), we can expect continuation of descending movement.

Nikolay Krishtopov
FreshForex Analyst
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