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The price has failed to cross (4/8)

The price has failed to cross (4/8) | 18 July 2016

18 July 2016, USD/JPY

The four-hours chart of USDJPY . Crossing the major support / resistance level (4/8) with the first attempt has failed. The price has bounced down, but remains to be above the four-hours SuperTrend line. It gives chances for a growth. Nevertheless, there is a strong level (4/8), and since the price could not penetrate it, we deem drop as the main plan. The alternative option for today is retest of major support and resistance level (4/8)

Trading solutions: The goal on the four-hours SuperTrend line has been reached.

Nikolay Krishtopov
FreshForex Analyst
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