The downward movement remains to be a priority

13 April 2016, USD/JPY

The four-hours chart of USD JPY The pair has decided in favor of correction, but it is too early to talk about a global reversal. The downward movement remains to be a priority, so in the near future we are waiting end of the correction and resumption of the downward movement. This correction can end both a the current levels as the pair is near the local High and, respectively, the level of resistance, and, in case of breaking this level, the next level of resistance is the level of (6/8).

Trading solutions: I would settle 50% at current levels, while I would leave the remaining 50% upon reach of the level (6/8), moving Stop order to breakeven

Nikolay Krishtopov
FreshForex Analyst
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