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Pair has consolidate in oversold area

24 February 2016, USD/JPY

Pair has consolidate in oversold area

The four-hours chart USDJPY. After pair has consolidated in oversold area, it continues to decrease. Now there is no preconditions for price rising. So as a main possibility we are expecting pair decrease. Nearest aim is on (-1/8) level. From this level pair could have upward correction. More medium-term aim for decrease is (-2/8) level.

Trading decisions: hold sells

Nikolay Krishtopov
FreshForex Analyst
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