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We expect the price at (2/8)

22 August 2016, USD/JPY

The four-hours chart of USDJPY . After an extended consolidation, the price has failed to consolidate below the main support level. As a result, a rather strong support area has been formed, from which the price rebounded upwards. So, growth is the main plan. The nearest goal is the intermediate level of resistance. The outlook of growth can only be discussed after consolidation of the pair above this level

Trading solutions: Keep buying. The goal is the intermediate level of resistance 101.56 (2/8).

Nikolay Krishtopov
FreshForex Analyst
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