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The pair has entered overboughtness area again

08 June 2015, USD/JPY

p> The pair has entered overboughtness area again

4 hours’ chart of USDJPY. Meanwhile, the pair is moving according to our expectations. After breaking of the main level of resistance, the pair has stopped and reversed down on the level (+1/8), tested the level (8/8) from the opposite side and now we can expect a new wave of growth with the final target based at the level (+2/8). This option will be cancelled by a breakthrough and consolidation of the pair below (8/8).

Nikolay Krishtopov
FreshForex Analyst
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