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04 July 2016, USD/JPY


The four-hours chart of USDJPY . Bulls failed to consolidate above the intermediate resistance level. However, they still manage to hold the price above the four-hours line of Supertrend thereby maintaining potential for growth. We expect growth and consolidation of the price above (2/8). The alternative option is drop (1/8). However, this option will become relevant only when the price consolidates below the four-hours line of Supertrend.

Trading solutions: buy from the current levels with a short Stop Loss set at the four-hours line of Supertrend. The nearest goal is the Daily SuperTrend line 103.65

Nikolay Krishtopov
FreshForex Analyst
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