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The level (4/8) until is not passed yet

13 May 2016, USD/JPY

The four-hour chart of USDJPY . With the second approach, bulls failed to break a major support and resistance level (4/8) once again. It is the strongest level in the system, so it is very difficult to pass it. However, now on the local level the situation remains favorable for growth. Main option is a retest of (4/8) and further medium-term growth with long-term goal at the level of (6/8). Resumption of the downward movement will be enabled only by breakdown of the SuperTrend Day line

Trading solutions: Keep buy trades from the SuperTrend Day line, Stop LOss is moved to breakeven

Nikolay Krishtopov
Analyst of «FreshForex» company
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