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Expecting the price on the level (4/8)

Expecting the price on the level (4/8) | 13 July 2016

13 July 2016, USD/JPY

The four-hours of USDJPY . Bulls have easily managed to cross the resistance (intermediate level (2/8)). This is quite a serious claim to break the downward trend. The pair is currently proof-testing the four-hours SuperTrend line that provides good support for the price under the trend movement. Rising dynamics is still relevant, so we may see a current growth of the pair to continue. The next significant resistance level is (4/8). In case of its breakdown and consolidation of the price below four-hours SuperTrend line, we expect retest of (2/8)

Solutions: no

Nikolay Krishtopov
FreshForex Analyst
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