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An attempt to pass the level (6/8) has failed

An attempt to pass the level (6/8) has failed | 03 July 2015

03 July 2015, USD/JPY

An attempt to pass the level (6/8) has failed

4 hours’ chart of  USDJPY. The pair failed to consolidate above the level (6/8) from the first attempt. Now we witness a local correctional roll down of the price. Nevertheless, The main scenario considered by us is still growth of the price. To confirm this plan, the price needs to consolidate above the level (6/8). In this case, the main level of support and resistance  (8/8) will be its target.

Nikolay Krishtopov
FreshForex Analyst
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