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Things go quite well for bears

Things go quite well for bears | 15 April 2016

15 April 2016, USD/JPY

Things go quite well for bears

The four-hours chart of USD JPY . In general, the pair met our expectations. The pair came from four-hour SuperTrend line to the Daily SuperTrend line, from which it has bounced down. Given that the overall trend is down now, it is justified to expect resumption of the downward price movement. But this plan lacks one point: to do so, the pair need to pass a local level of support which is represented by four-hour SuperTrend line. As long as this level of support is not reached, there is a very high probability that the price can by adjusted even higher

Trading solutions: Yesterday's purchase from four-hour SuperTrend line had to be settled on Daily SuperTrend line and from there we were supposed go to short. Now we can transfer our trades to the breakeven status and wait whether the price will be able to pass four-hour SuperTrend line

Nikolay Krishtopov
FreshForex Analyst
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