USD/JPY: went to the resistance area

07 June 2016, USD/JPY

USD/JPY: went to the resistance areaFour-hourly chart USDJPY. The pair is corrected. Moving up, as we see, is a hard thing for bulls. The pressure is kept for the pair. Therefore, a priority is still considered as a variant with reduced pair. The nearest significant level of support is at (0/8). But the second attempt is likely that buyers will be able to push through this level. In this case, the medium term target for a decline will be the mark (-2/8). Trading solutions: keep yesterday's sales of the line of the four-hourly SuperTrend. Those, who didn’t enter yesterday, may try to enter the market at the current levels today. Closing positions is worth in the case of bulls will try to be kept above the level (2/8).

Nikolay Krishtopov
FreshForex Analyst
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