The price has stopped at reversal level

06 April 2016, USD/JPY

The four-hour chart of USD JPY . The pair continued the downward movement almost with no pullbacks. To date, the price has stopped at the level of (1/8), which yesterday was marked as the target. Let me remind you that this is a reversal level, stop at which promises quite a strong growth with a view on the main level of support / resistance (4/8). But given strength of bears, talking about this option is too early. It is best to wait until the price consolidates above the four-hours SuperTrend Line. In the meantime, the priority is given to drop to the main level of support

Trading solutions: No

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
© 2004—2018 FreshForex – Forex broker
manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call