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The pair is holding its position above (6/8)

29 May 2015, USD/JPY

The pair is holding its position above (6/8)

4 hours’ chart of USDJPY. Following to a bounce from the reversal level (7/8), the pair is consolidating a little above the point (6/8). As we pointed out in our previous review, only if the pair manages to consolidate below 4 hours’ Super trend line, the price may reverse. Until the pair is above this level, a further growth of the pair to the main resistance level (8/8) is our main scenario.

Nikolay Krishtopov
FreshForex Analyst
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