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Bulls may take the initiative

12 April 2016, USD/JPY

The four-hours chart of USDJPY . The spring is getting more tight. Bears continue to push the price to the level of (5/8), not allowing to break the four-hours SuperTrend line from bottom to top, and in turn bulls continue to hold the line at the level of (6/8). Most likely, at the moment we wintess a corrective upward pullback of the prices. The goal of correction is the level (6/8), from which, most likely, the pair will resume its downward movement. This option will be canceled if the bears manage to push the level of (5/8)

Trading Solutions: buy from current levels with a view to the level of (6/8)

Nikolay Krishtopov
FreshForex Analyst
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