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Bulls can not withstand attack

05 April 2016, USD/JPY

The four-hours chart of USDJPY The target (2/8) has been reached. Given direction of the current trend, bears may continue to put the price under pressure not allowing it even to correct. The breakdown of the level (2/8) is a matter of time, and, most likely, of the next time. Medium-term goal is the level of (0/8). But in this case, we must pay attention to the level (08.01). Positions of bull are now very weak. For the rehabilitation they need at leastto get the price consolidated above the four-hours SuperTrend line. It will open some opportunities for a corrective upward motion. But so far we cannot expect it

Trading Solutions: Sales from current levels. Those who will to enter after a probable upward corrective pullback, should keep sales.

Nikolay Krishtopov
Analyst of «FreshForex» company
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