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Downtrend continues

11 April 2016, USD/JPY

The four-hours chart of USD JPY . The pair has bounced off the four-hours Supertrend line. This is a signal that downward movement along the current trend will continue. Bulls still do not show their strength, so the priority is still given to sales of the pair. The target of drop is the main support and resistance level (4/8), but it is not the goal of the day. To move the price up, bulls need at least to gain a foothold above the four-hours Supertrend line, better still above the mark (6/8). Only in this case we can be consider growth

Trading solutions: No

Nikolay Krishtopov
FreshForex Analyst
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