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Trying to gain a foothold in the oversoldness area

Trying to gain a foothold in the oversoldness area | 13 June 2016

13 June 2016, USD/JPY

The four-hours chart of USDJPY . Bears still decided to storm the main support level (0/8). It is too early to talk about results, but it is much likely that the price can be held below this mark. The nearest significant support is (-1/8). From it I expect a usual correction to (0/8) and resumed downward movement. If bulls manage to hold the price above (0/8), this plan will be canceled. In this case, the price may surge at least to the intermediate level of resistance (2/8)

Trading solutions: No

Nikolay Krishtopov
FreshForex Analyst
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