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The pair broke the level (4/8)

The pair broke the level (4/8) | 01 September 2016

01 September 2016, USD/JPY

4 hours' chart of USDJPY . Quickly enough the price has managed to overcome a major support and resistance level 103.13 (4/8). Now the pair is trying to gain foothold above it. If it succeeds, we may expect continuation of the upward movement. The next goal is Daily Supertrend line, upon its reach we can expect a downward rollback of the price. A false breakout of the level (4/8) is also possible. It will be relevant if the price returns to 103.13 (4/8) and gains a foothold there.

Solutions: none

Nikolay Krishtopov
FreshForex Analyst
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