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Bulls managed to hold the local level of support

12 May 2016, USD/JPY

The four-hours chart of USDJPY . Bulls managed to hold the support at the SuperTrend Day line. The price was pushed up thus confirming our expectations of a possible corrective growth. Its nearest goal is the major support and resistance level (4/8). To ensure a continued growth, buyers need break and consolidate above (4/8). Once this level is crossed, a new promising target (6/8) will be opened

Trading solutions: Keep Buy trades from the SuperTrend Day line and check respond of the price to the level (4/8) to make a decision whether to keep an order on or not.

Nikolay Krishtopov
FreshForex Analyst
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