The reversal level (1/8) has been broken | 16 أغسطس 2016
16 أغسطس 2016, USD/JPY
The four-hours chart of USDJPY . After a brief consolidation, the reversal level (1/8) was broken from top to bottom. Thus, a surge to the main support and resistance level (4/8) was canceled; the reversal pattern was not fulfilled. The basic option is a drop to the main goal at the strong support level (0/8). We can not exclude growth of the pair from current levels, but growth can be considered only as an upward corrective pullback without a great potential, and not as the medium-term reversal
Solutions: none
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
