Murrey levels were redrafted | 22 July 2016

22 July 2016, USD/JPY

The four-hours chart of USDJPY . Murrey levels were redrafted and that reduced volatility of the instrument. Yesterday there was quite an unexpected reversal. Nevertheless, nothing critical for bulls has not happened yet. Certainly, a counterattack of bears was successful, but a key support area - (7/8) - was defended by bulls. Therefore, to date, potential for growth remains and this option is considered to be the main one.

Solutions: at current levels you can make another attempt to enter Long. The goal is at 107.81 (+2/8). Put Stop Loss at 105.47 (7/8).


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
Nikolay Krishtopov
FreshForex Analyst
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