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Nearing the intermediate resistance level (2/8)

Nearing the intermediate resistance level (2/8) | 29 September 2016

29 September 2016, USD/JPY

USD/JPY: Price comes to the intermediate resistance level (2/8)

The four-hours chart USDJPY. After turnover from the main support level(0/8) pair has strong upwards pull back. Now price comes to the nearest important resistance level 101.56 (2/8). Price couldn’t go from this level from the first time now it is strengthened with daily Supertrend line. So from this level we are waiting for correction down pullback with nearest aim on the four-hours Supertrend line. This possibility would be canceled if pair breaks through this level and consolidate pair upper level 101.56 (2/8).

Trading decisions: fix profit on the level 101.56 (2/8).

Nikolay Krishtopov
FreshForex Analyst
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