USDJPY short

15 Agu 2016

Last week bulls tried to make a recovery and pull price up from support and past the next support but failed. Bears were able to hold the 38.2 retracement as well as well as bringing price back down into major support area (101). as price continued into this area we can see it touch the demand zone and make another reversal up but bears once again were able to hold price in support while at the same time holding the 23.6 retracement also noting that the bears held the price from making a new high. From here we get our 3rd touch into the demand zone with an even weaker bounce. If bulls fail to break the last high from the #2 touch on the demand zone then we can see price falling from here to 95.00 area.