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Targets remain the same

31 March 2016, USD/JPY

The four-hours chart of USDJPY . After a brief consolidation at the level of (4/8), the pair resumed its downward movement. In general, the situation is developing based on our main scenario. The pressure on the pair is strong enough, and there are no signs of the upward reversal of the price. So, the main option for today remains the same: we expect a further drop. The target remain the same - (2/8), but during the day the price is unlikely to reach it. We have quite a vague possibility of growth. Bulls at least need to gain a foothold above the local level of resistance just above (4/8).

Trading solutions: No

Nikolay Krishtopov
FreshForex Analyst
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