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The price has stuck in the channel (6/8 - 8/8)

The price has stuck in the channel (6/8 - 8/8) | 08 December 2015

08 December 2015, USD/JPY

The price has stuck in the channel (6/8 - 8/8)

The four-hour chart of USD JPY . One more time, the pair has failed to break through the level (8/8). As you can see, downward bounce from this level happened, which is a signal for us that flat will continue within 6/8 and 8/8 levels. This option was considered by us as the alternative, today it became a major scenario. Breakdown and consolidation of the price above or below one of the bourders of the channel will cancel this option.

Trade Solutions: no

Nikolay Krishtopov
FreshForex Analyst
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