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Waiting when the price will reach the level (6/8)

Waiting when the price will reach the level (6/8) | 06 July 2015

06 July 2015, USD/JPY

Waiting when the price will reach the level (6/8)

4 hours’ chart of  USDJPY. The pair has again bounced down from the level (6/8) to the main level of support and resistance  (4/8). Since it is the strongest level in the system, we wait a new growth and return of the price to the point (6/8). It can cause further breakthrough of this level and further upward movement to the level (8/8). This scenario will be cancelled by breakthrough and and consolidation of the price under the level (4/8).

Nikolay Krishtopov
FreshForex Analyst
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