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The level (0/8) is still holding the price

The level (0/8) is still holding the price | 18 August 2016

18 August 2016, USD/JPY

The four-hours chart of USDJPY . On a corrective pullback from the level of (0/8), the pair has faced resistance at the next level, which is usually repersented by the four-hours SuperTrend line. As a result, the pair is retesting support level (0/8), which cannot be corssed. As long as the price is above (0/8), the main option is growth. It will be canceled only when the price starts to be oversold

Trading solutions: Buy from current levels with the stop set behind the local Low. The goal is at the intermediate level of resistance 101.56 (2/8).

Nikolay Krishtopov
FreshForex Analyst
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