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We expect the price at (2/8)

17 August 2016, USD/JPY

The four-hours chart of USDJPY. The goal on the main support level (0/8) has been reached. This is a very strong level, at which reversals of trend movements often occur, not to mention corrective pullbacks. In our case, we saw a false breakthrough of this level and strong enoug rollback of the price higher. The nearest resistance is at (2/8), so we expect the price at this level, then, we can expect a new approach to the mark (0/8). This test will much determine the medium-term direction of price movement.

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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