The level (1/8) is holding the price

15 August 2016, USD/JPY

The four-hours chart of USDJPY. The pair has got back down again and did not reach the target at the main level of support and resistance (4/8). But it is still above the reversal level (1/8), from which it rebounded earlier. Therefore, growth is the main plan. The goal is still 103.13 (4/8). This option will be canceled only by a breakdown and condolidation of the price below 100.78 (1/8). On such a scenario we expect the price at a local Low, which is based at the main level of support 100.00 (0/8).

Solutions: The previous order was closed by break-even, we'll try to enter into Long positions once again at current prices. The goal is 103.13 (4/8).

Nikolay Krishtopov
FreshForex Analyst
See also:
Agree with the review?
Traders' opinion:
Log in
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 .
© 2004—2018 FreshForex – Forex broker
manager photo
Ask a question
We will be pleased to answer any questions you may have
Write Call