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A continued drop

A continued drop | 02 August 2016

02 August 2016, USD/JPY

The four-hours chart of USDJPY . The pair has proof-tested the four-hours SuperTrend line and bounced off it. So, we have a signal of a continued downward movement. The nearest goal is still (2/8). The medium-term goal is the main support level (0/8). Growth of the pair will be considered after the break and consolidation above the main support and resistance level (4/8).

Solutions: yesterday the trade was not activated, but I will not remove the order, still sell at a price rollback to 103.12 (4/8).

Nikolay Krishtopov
FreshForex Analyst
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