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The price has stopped at the reversal level (1/8)

The price has stopped at the reversal level (1/8) | 03 August 2016

03 August 2016, USD/JPY

The four-hours chart of USDJPY . The pair has continued a downward movement. As a result, the level (2/8) was broken and now the price is at the reversal level (1/8). But it is too early to talk about a reversal to the top. We should take into account that downward movement is relevant in recent days. Therefore, the main option is a corrective back to (2/8) and from there - resumption of the downward movement. Reversal will be enabled by consolidation above the four-hours SuperTrend Line

Solutions: none

Vasiliy Lukin
FreshForex Analyst
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