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The pair failed to gain a foothold in the oversoldness area

16 October 2015, USD/JPY

The pair failed to gain a foothold in the oversoldness area

The four-hours chart of USD JPY . The pair broke the level (0/8), but failed to gain a foothold in the oversoldness zone, which supports all of its area. At the moment, the price is approaching to the four-hours SuperTrend Line, from where it can rebound down targeting the level of (0/8), retest of which determined results to a high extent.

Trade Solution: None

Nikolay Krishtopov
FreshForex Analyst
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