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The pressure on (4/8) is growing

20 July 2016, USD/JPY

The four-hours chart of USDJPY . The pressure on the main level of support / resistance (4/8) is growing. Bulls are pressing, while holding the price above the four-hours Supertrend Line. A main option is a breakthrough of (4/8), and further growth of the pair. This option would be canceled only by a breakdown and consolidation of the pair below the four-hours Supertrend Line. Despite the increasing pressure of bulls, the scenario with a downward reversal remains relevance, too, because (4/8) is the strongest in the system and breaking it is not always easy.

Trading solutions: keep yesterday's purchase

Nikolay Krishtopov
FreshForex Analyst
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