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The pair has stuck in the horizontal channel

The pair has stuck in the horizontal channel | 17 May 2016

17 May 2016, USD/JPY

The pair has stuck in the horizontal channel

The four-hour chart of USDJPY . The pair has stuck in the horizontal channel formed by the Day SuperTrend line and main levels of support and resistance (4/8). So far, there are no signs that the price may leave the flat. Therefore, the direction of exit of the price from flat will largely determine the medium-term outlook of the price. Meanwhile we are waiting

Trading solutions: I can close the purchase with a small profit, but given the fact that my Stop Loss orders is in the breake-even status, I can extend this purchase

Nikolay Krishtopov
FreshForex Analyst
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