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The price was hold above (0/8)

The price was hold above (0/8) | 11 July 2016

11 July 2016, USD/JPY

4 hours chart of USDJPY . Bulls managed to hold the price above the main support level (0/8). This is a fairly strong argument in favor of reversal of the current downward movement. Take into account also the fact that this has been the second unsuccessful attempt of sellers push this level. Therefore, growth is the main expectation. So far, we do not discuss this scenario in the medium run. For a start it would be nice to get to the Dailyy SuperTrend line or even consolidate above this resistance level.

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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