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The pair is testing strength of the reversal level (7/8)

The pair is testing strength of the reversal level (7/8) | 30 July 2015

30 July 2015, USD/JPY

The pair is testing strength of the reversal level (7/8)

The four-hours' chart of USDJPY . The pair has resumed its upward movement and once again is testing strength of the reversal level (7/8). However, at the moment, the pair is below this level, therefore, our basic expectation is decline to the main support and resistance level (4/8). Thus, this option will be canceled by a breakthrough and consolidation of the price above the level (7/8).

Nikolay Krishtopov
FreshForex Analyst
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