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Nearing the strongest level in the system

Nearing the strongest level in the system | 15 July 2016

15 July 2016, USD/JPY

The four-hours chart of USDJPY . The goal on the main level of support and resistance (4/8) has been reached. It is the strongest level in the system and is usually crossed with pullbacks. In this case the price has already passed quite a long distance with little or without significant pullbacks. So, drop is the main plan with the nearest target represented by the four-hours SuperTrend line. This option will be canceled by breakdown and consolidation of the prices above (4/8)

Trading solutions: The goal has been reached, settle the profit and try to sell from current levels with a view on the four-hours SuperTrend line.

Nikolay Krishtopov
FreshForex Analyst
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