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Pair is trying to go out from flat

Pair is trying to go out from flat | 17 March 2016

17 March 2016, USD/JPY

Pair is trying to go out from flat

The four-hours chart USDJPY. After one more try pair has broken through (0/8) level. It is early to make conclusions because pair hasn’t consolidate under this level and it could be pseudo breakthrough. But if we observe current situation we can see that buyers has real advantage. Breakthrough of (0/8) level leads for further pair decrease. First aim is level (-1/8). Earlier we have seen price upwards bounce. In fact this level is last important level for bulls. But this breakthrough could be pseudo and in fact situation is unclear.

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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