We expect work out of a reversal pattern

09 August 2016, USD/JPY

The four-hours chart of USDJPY . After stop and reversal of the price at (1/8), the main option is growth of the pair to the main support / resistance level (4/8). Now the price sticks to this scenario. If you look at the overall current picture, the current growth is considered not as a reversal, but as a corrective pullback. So far, the downward trend is not completely broken, upon reach of the target level (4/8), we may see the beginning of a new descending wave bringing update of the local Low

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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