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The level (4/8) failed to hold the price

08 July 2015, USD/JPY

The level (4/8) failed to hold the price

4 hours’ chart of USDJPY. The main level of support and resistance  121.88 (4/8) failed to hold the price and now the pair is trying to consolidate under this point. Shall it succeed in this attempt, the level 120.31 (2/8) will perform as the next target for its decline. This scenario will be cancelled by return of the price above the level 121.88 (4/8).

Nikolay Krishtopov
FreshForex Analyst
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