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Retesting the strongest level in the system

Retesting the strongest level in the system | 14 September 2016

14 September 2016, USD/JPY

USD/JPY: price is retesting the strongest level in the system

The four-hours chart USDJPY. Level (2/8) couldn’t hold price from further decrease. We see strong price pullback and pair is testing the main support\ resistance level (4/8). Now there is no possibilities to the breakthrough from this level to the bottom. As a priority we could look possibility with pair down bounce from (4/8) level and return to the level (2/8). This possibility would be canceled if the pair brakes through and consolidate above (4/8) level.

Trading decisions: sell from the currency levels with stop for local maximum with aim on 101.56 (2/8) level.

Nikolay Krishtopov
FreshForex Analyst
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