No bulls yet

03 May 2016, USD/JPY

The four-hours chart of USDJPY . The main level of support (0/8) will not be able to hold the price from a deeper decline. Bears dragged the price to this level and now trying to keep it oversold. Apparently, sellers will be able to keep the price there, and soon we will see a continuation of the current downtrend. The next target for either a corrective pullback or stop of the price is (-1/8). Growth of the pair is not even considered because there are no signs of it

Trading solutions: No

Nikolay Krishtopov
FreshForex Analyst
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