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The pair is trying to gain a foothold in oversoldness area

The pair is trying to gain a foothold in oversoldness area | 06 January 2016

06 January 2016, USD/JPY

The pair is trying to gain a foothold in oversoldness area

The four-hours chart of USD JPY . From four-hours line of SuperTrend the pair has resumed the downward movement. The price has broken through the main support level (0/8), and entered the oversoldness zone. If it manages to gain a foothold below in this area, in the near future we expect a further drop with the target level (-1/8). If the attempt to gain a foothold below the level of (0/8) fails, we expect growth to the intermediate resistance level (2/8).

Trading Solution: None

Nikolay Krishtopov
FreshForex Analyst
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