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Trying to gain a foothold in the overboughtness area

Trying to gain a foothold in the overboughtness area | 25 July 2016

25 July 2016, USD/JPY

The four-hours chart of USDJPY . Bulls continue to control the situation. The local support area between (7/8) and (8/8) is held by buyers and it is fairly strong. The main option is growth. At the moment, the price is overbought, if it manages to gain a foothold there, in the near future we may see the price at (+2/8), whereupon the Murrey levels will be redrafted. < p>

Trading solutions: keep buying, target is 107.81 (+2/8). So far, hold Stop Loss behind 105.47 (7/8).

Nikolay Krishtopov
FreshForex Analyst
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