We expect the price at (2/8) | 17 August 2016
17 August 2016, USD/JPY
The four-hours chart of USDJPY. The goal on the main support level (0/8) has been reached. This is a very strong level, at which reversals of trend movements often occur, not to mention corrective pullbacks. In our case, we saw a false breakthrough of this level and strong enoug rollback of the price higher. The nearest resistance is at (2/8), so we expect the price at this level, then, we can expect a new approach to the mark (0/8). This test will much determine the medium-term direction of price movement.
Trading solutions: no
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
