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Holding above the level of (4/8)

Holding above the level of (4/8) | 02 September 2016

02 September 2016, USD/JPY

The four-hours chart of USDJPY . The pair continued upward movement, but stopped at the Weekly SuperTrend line, from where it has bounced off downward. Nevertheless, the pair continues to hold above major support and resistance level 103.13 (4/8), so as a the main option is growth of the pair. Next target is 104.69 (6/8). This option will be canceled by breakdown and consolidation of the price below 103.13 (4/8), which is now acting as a key local support.

Solutions: no

Nikolay Krishtopov
FreshForex Analyst
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