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Potential for local growth

12 September 2016, USD/JPY

USD/JPY: price has potential for local growth

The four-hours chart USDJPY. Pair continues correction after strong decreas. It is early to say about middle – term growth because pair locates under strong local support area. Which is located under weekly Supertrand line, but locally pair could continue upwards movement up to mention resistance area. Further price movement would be connected from results of testing this line. Upwards breakthrough opens way to the (8/8) level. Down bounce could be signal for decrease to (0/8) level.

Trading decisions: no

Nikolay Krishtopov
Analyst of «FreshForex» company
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