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Expecting growth to (8/8)

Expecting growth to (8/8) | 03 August 2015

03 August 2015, USD/JPY

We are waiting for growth to the level of (8/8)

The four-hours' chart of USDJPY . In the previous review, we'd noted that decline to the main level of support-resistance (4/8) will be relevant only if price bounces from the level of (7/8) to lower levels provided that the level (6/8) will be broken from the top down . As you can see, the price bounced from the level of (6/8) in the upward direction. It means that decline of the pair to the level (4/8) is canceled. We consider growth of the pair to the main resistance level (8/8) to be the core plan.

Nikolay Krishtopov
FreshForex Analyst
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