manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

Storming the intermediate level of resistance

12 July 2016, USD/JPY

The four-hours chart of USDJPY . By holding the major support level (0/8), bulls had run a good counterattack. But, so far it can not be called successful for the simple reason that the breakthrough the resistance level (2/8) has failed. The current growth is nothing but a correction. Only in case of breakdown and consolidation of the pair above (2/8), we can talk about a strategic success of bulls. Therefore, at the moment we expect a small corrective pullback below the resistance level (2/8), and new attempts of buyers to cross 103.13 (2/8).

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .