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Testing the level (7/8)

31 July 2015, USD/JPY

Testing the level (7/8)

The four-hours' chart of USDJPY . The pair made another attempt to pass the level (7/8), but as we have seen, it has been unsuccessful so far. Thus, decline of the pair targeting the main level of support and resistance (4/8) remains to be the core pllan for the price. This option will be even more relevant after the breakdown of the mark (6/8) from the top to bottom. This option will be canceled by consolidation of the price above the level (7/8), as well as in the event that the price will not be able to push the level of (6/8) and we will see price bouncing from this mark.

Nikolay Krishtopov
FreshForex Analyst
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