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The price has stuck in the flat channel

The price has stuck in the flat channel | 28 June 2016

28 June 2016, USD/JPY

The four-hours chart of USDJPY . The pair has stuck in the robust flat. Meanwhile, buyers still hold the price above (1/8), so we expect growth targeting (2/8), because it is the nearest significant resistance level. Further growth will be enabled only by consolidation of the price above(2/8). Do not forget that we still have a relevant downtrend, so decline should not be disregarded. On breakdown of (1/8) we may see the price at (0/8) and maybe below

Trading solutions: No

Nikolay Krishtopov
FreshForex Analyst
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