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The level (3/8) is holding the price

23 June 2016, USD/JPY

The four-hours chart of USDJPY . The pair has stuck in a fairly narrow flat with the upper border (3/8). Meanwhile bulls are unable to cross this level to open new targets for a corrective growth. Today a downward movement targeting (2/8) is the prior option. Its breakdown will bring the price to (1/8). To make the price grow, bulls need to consolidate above (3/8). In this case, we may see a retest of the major support and resistance level (4/8).

Trading solutions: no

Nikolay Krishtopov
Analyst of «FreshForex» company
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