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The price has stopped at reversal level

The price has stopped at reversal level | 06 April 2016

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
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