Bears do not give up | 23 May 2016

The four-hours chart of USDJPY . Bulls failed to drag the price to the resistance at the level of (6/8). Bears had run a counter-attack. As a result, they managed to push the local levels of support and calm bulls down. Nevertheless, the price is close enough to a very strong level of support (4/8). It is the strongest level in the system, from which we are waiting for resumption of the upward movement. As for the outlook of downward movement, as long as the price is above the strong support area (3/8), we can not discuss a downward reversal.

Trading solutions: you can keep buy trades. As for the new entry points, look from the level of 109.38 (4/8).