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The price stopped at the level of (5/8)

11 December 2015, USD/JPY

The price stopped at the level of (5/8)

The four-hour chart of USD JPY . The pair easily broke through the level of (4/8) and stopped at the level of (5/8). As you can see, there are preconditions for a further price movement within the flat within the borders (3/8 - 5/8). But meanwhile the primary expectation is drop of the price to the level of (2/8). Continuation of the price movement within the channel (3/8 - 5/8) will be the major scenatio on rebound of the price from the level (3/8).

Trading solution: None

Nikolay Krishtopov
FreshForex Analyst
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