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Wait the price to hit level (2/8)

Wait the price to hit level (2/8) | 06 May 2015

06 May 2015, USD/JPY

Wait the price to hit level (2/8) 4 hours’ chart of USDJPY. The pair tried to get consolidated and pull through the main level of resistance/support (4/8). But this attempt was not a lucky one. We see a rather strong bounce of the price which tells about its further decline.

Currently the price is based in local area of support formed by the lines of 4 hours’ and daily SuperTrend.

Meanwhile there is no bounce from this area, so the probability of breakthrough is rather big.

Nikolay Krishtopov
FreshForex Analyst
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