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The reversal pattern is going to be implemented

04 August 2016, USD/JPY

 The four-hours chart of USDJPY . The second attempt of bears to push the reversal level (1/8) has failed. Though we have seen consolidation above the four-hours SuperTrend Line yet, we can not ignore these signals. Therefore, today the main scenario is growth targeting the main support and resistance level (4/8). Breakdown of (1/8) and consolidation above the four-hours SuperTrend Line from the top to bottom will cancel this option.

Trading solutions: try to buy from current levels with the target 103.13 (4/8)

Nikolay Krishtopov
FreshForex Analyst
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