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Wait for price at (0/8) level

15 May 2015, USD/JPY

Wait for price at (0/8) level

4 hours’ chart of USDJPY. This pair was not able to break support of weekly line of SuperTrend and there was an upward reversal of price. However, the pair is located below the intermediate resistance level of (2/8), from which you can expect the new reduction wave. So, the main scenario is decline to (0/8) mark. The alternative is a (2/8) level breakthrough bottom to top and sideways trend will continue in (0/8 – 4/8) range.

Nikolay Krishtopov
FreshForex Analyst
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