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Trying to gain a foothold below the level of (0/8)

Trying to gain a foothold below the level of (0/8) | 01 March 2016

01 March 2016, USD/JPY

Trying to gain a foothold below the level of (0/8)

The four-hours chart of USD JPY . The pair failed to consolidate above the level (0/8), and now it is likely to continue a downward movement to retest the next level (-1/8), which is likely to be broken from the top to the bottom after a third approach. Accordingly, this option will no longer be relevant if the pair consolidates above the level of (0/8)

Trading solutions: Close yesterday's Buy trades at current levels.

Aleksey Panasenko
FreshForex Analyst
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