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Expecting the price on the level (4/8)

Expecting the price on the level (4/8) | 22 June 2016

22 June 2016, USD/JPY

The four-hours chart of USDJPY . The pair continues to consolidate around (3/8). As you can see, sellers could not hold the price below the four-hours line of SuperTrend. The dynamics of the downward movement was lost. Soon we may see a deeper corrective upward pullback. Goals for growth - the area between the main levels of support and resistance (4/8) and the SuperTrend Day line. We also shall not fully ignore the possibility of resumed downward movement. If bulls cannot hold the price above the fourhours SuperTrend Line, this option will become major for us once again.

Trading solutions: no

Nikolay Krishtopov
FreshForex Analyst
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