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The level (2/8) will be reached

04 April 2016, USD/JPY

The four-hours chart of USD JPY. So far, the pair sticks to our expectations. After consolidation in the narrow range just below (4/8), bears continue to push the price down. The level (2/8) still serves as the target of drop and this level was protected by bulls more than once. From the third attempt, this level is likely to be broken, but the price is unlikely to make it at once, therefore, we expect a corrective pullback and only after that a decisive attack will take place

Trading solutions: Keep selling from the four-hours Supertrend line with a view on the level of (2/8), also the price close a little higher

Nikolay Krishtopov
FreshForex Analyst
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