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Pressure to (8/8) is getting stronger

05 June 2015, USD/JPY

Pressure to (8/8) is getting stronger

4 hours’ chart ofUSDJPY. As we see, there was no significant bounce from the main (8/8) level of resistance. The pair continues to get consolidated near the closest level, thereby increasing chances to break of this point from bottom to top. In this case, the first target will be the point (+1/8), from which you can expect a bounce to retest the point (8/8) from the opposite side.

Nikolay Krishtopov
FreshForex Analyst
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