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Waiting when the price will hit level (8/8)

23 July 2015, USD/JPY

Waiting when the price will hit level (8/8)

4 hours’ chart of  USDJPY. The pair has bounced upward from the the area of resistance formed by day Supertrend line and intermediate level of support (6/8) but faced resistance on the 4 hours’ Supertrend line. So, by the moment, retest of the above-mentioned support area is likely to happen and bounce from that area with a further growth to the level (8/8).

Nikolay Krishtopov
FreshForex Analyst
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