manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call
Close
Log in

Reversal on the main level of resistance (8/8)

26 July 2016, USD/JPY

The four-hours chart of USDJPY . Bears failed to gain a foothold in the overboughtness zone and, as a result, we have seen a downward reversal. To date, the price moved to the local level of support (5/8), from which we can expect an upward rebound. But, because the two resistance levels - (6/8) and the four-hours SuperTrend line - are close, the correction is unlikely to have a great potential. Medium-term plan is decline of the pair.

Trading solutions: no

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