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Bears have set the dominating role

18 March 2016, USD/JPY

The four-hours chart of USD JPY . The pair has entered the oversoldness zone, thus bears fully established their dominance. Now the pair is testing the strength level (-1/8), which is the last barrier protecting bulls, but I do not think that they can sustain again. After a slight upward pullback, I would wait for the breakdown of this level and further drop targeting the level of (-2/8). For that Murrey levels will have to be redrafted. I do not view the bullish scenario at all

Trading solutions: Sale from the four-hours line of SuperTrend

Nikolay Krishtopov
FreshForex Analyst
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