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Level (4/8) restrains price

01 April 2016, USD/JPY

The four-hours chart of USD JPY . The pair continues to consolidate below the main support and resistance level (4/8). So far, there are no preconditions for the upward reversal. Bears do not allow the price to gain a foothold above the level (4/8). Therefore, we are considering drop to be the main option. The goal is the level (2/8). Growth scenario will be relevant if bulls manage to raise the price above the level (4/8). In this case, in the medium term we may see the price at the level of (6/8)

Trading solutions: Sale from the four-hours Supertrend line

Nikolay Krishtopov
FreshForex Analyst
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