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Sellers have the initiative

Sellers have the initiative | 08 September 2016

08 September 2016, USD/JPY

USD/JPY: Sellers have the initiative

The four-hours chart USDJPY. Pair is continue correction on (2/8) level. We haven’t seen considerable correction it is point on strength of sellers. We consider price decreasing as a main possibility. The aim is next even level in this case it is the main support level (0/8). This level would be canceled if bulls could break through and consolidate above the four- hours Supertrend line. In this case we can consider on pullback to the area of main support/ resistance level (4/8).

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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