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Expecting a breakthrough of (0/8)

Expecting a breakthrough of (0/8) | 08 July 2016

08 July 2016, USD/JPY

The four-hours chart of USDJPY . There was no strong rebound from the main support level (0/8). Moreover, the pair failed to cross the resistance on the four-hours SuperTrend line. We have a signal of a continued downward trend movement. Therefore, we expect the downward movement to target (-1/8) as the nearest goal. A corrective growth will be enabled by consolidation of buyers above the fourhours' SuperTrend Line.

Solutions: None

Nikolay Krishtopov
FreshForex Analyst
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