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The pair remains into a horizontal corridor

The pair remains into a horizontal corridor | 20 September 2016

20 September 2016, USD/JPY

USD/JPY: Pair remains into horizontal corridor

The four-hours chart USDJPY. Aim on (2/8) level has reached. This is bottom limit of horizontal corridor (2/8 – 4/8). In this corridor pair has moved last week. As we can see pair has upwards bounce from (2/8) level, as a priority we would see possibility with price moving into horizontal channel. This possibility would be canceled if price breaks through one limit of the corridor. Now the main possibility is possibility with breakthrough bottom limit. But if it happe the main possibility will be changed to the price moving to the main support level (0/8).

Trading decisions: no

Nikolay Krishtopov
FreshForex Analyst
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