manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Close
Log in

The price has entered the oversoldness zone

07 April 2016, USD/JPY

The four-hours chart of USDJPY . Bears continued to pull the price down. As we can see, the price is already storming the main support level (0/8) and this attempt is is quite successful. Typically, in such cases, the price can stop at the level of (-1/8), from it will form correction to the level of (0/8). To resume growth of the pair, bulls need to consolidate above the level (0/8). Given strength of the downtrend, we have a hard time believing it, but potential of sellers is also not endless. It is possible they need a break, too.

Trading solutions: No

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

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 .