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Bulls resist

19 April 2016, USD/JPY

The four-hours chart of USDJPY . Bulls managed to defend the level 107.81 (5/8) once again. But while it is impossible to talk about smash of a downward trend. We are still dealing with correction, which, incidentally, may turn into an extended flat, but this option is considered as an alternative. The main option for today is growth, retest of the resistance based on the SuperTrend Day line and a downward pullback from this with another possible touch of (5/8).

Trading solutions: in the case of retest of the Daily SuperTrend line after return of the price to the level we can try to sell again.

Nikolay Krishtopov
Analyst of «FreshForex» company
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