Log in

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
Analyst of «FreshForex» company
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.