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We are expecting price exit from consolidation

14 March 2016, USD/JPY

 We are expecting price exit from consolidation

The four-hours chart USDJPY. Bulls are continue to rise price. Now they are near the very important level (1/8). Usually this level don’t have resistance but in this case price has long consolidation into the range (0/8 – 1/8). Level (1/8) is a upper line of corridor from which price couldn’t go out. But the possibility of pair growth is the main because medium-term bounce and pair consolidation above the main support level (0/8) are more strong signal.

Trading decisions: but with aim into (2/8) level.

Nikolay Krishtopov
Analyst of «FreshForex» company
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