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Expecting the price on the level (4/8)

Expecting the price on the level (4/8) | 28 July 2016

28 July 2016, USD/JPY

The four-hours chart of USDJPY. On the main level of resistance (8/8) the price reversed down. Yesterday we saw a retest of this level and a sufficiently strong and abrupt rebound of the price downward proved strength of this level. No signs of growth of the pair. Drop is the main plan. The intermediate level of support (6/8) is unlikely to be able to holf the price so long, so the next goal is the major support and resistance level (4/8)

Trading solutions: Keep selling with the next target 103.13 (4/8). Those who do not like holding the position long time can close at the current levels.

Nikolay Krishtopov
FreshForex Analyst
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