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Bulls control the situation

26 May 2016, USD/JPY

Bulls did not manage to gain a foothold above the level (5/8). After breakdown of the mark bears had seized the initiative again and returned the price to the main support and resistance level 109.38 (4/8). However, no major global changes occurred. Growth of the pair remains to be the main option. Only if bears manage to drag the price below the level (3/8), it will cancel growth scenario, but it is to far away.

Trading solutions: you can hold purchases by shifting the stop to breakeven. No new good entry point yet.

Nikolay Krishtopov
Analyst of «FreshForex» company
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