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Correction

22 September 2016, USD/JPY

USD/JPY: Waiting for correction

The four-hours chart USDJPY. Pair has broken bottom limit of horizontal channel (2/8 – 4/8) in which pair moved long time. Now pair is testing the main support level 100.00 (0/8). Pair couldn’t go through this level from the first try so as a main we consider possibility with correction pair growth. The aim is the line of the four-hours Supertrend line because it is the nearest important level which could influence on the price. If we consider medium-term situation for continue decrease moving sellers should break through (0/8) level, which could be difficult.

Trading decisions: buy from 100.00 (0/8) level with aim on 100.90 level.

Nikolay Krishtopov
FreshForex Analyst
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