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We are waiting when the price reaches (4/8)

22 May 2015, USD/JPY

We are waiting when the price reaches (4/8)

4 hours’ chart ofUSDJPY. We wait when reversal pattern will be shaped and within this framework we expect that price will get down to the main level of support and resistance (4/8). As of now, the only hindrance for this plan is 4 hours’ Super trend line, which renders a rather strong support under significan trend movements. But we expect that in the nearest time this support will be broken.

Nikolay Krishtopov
FreshForex Analyst
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