Leonid graduated from Donetsk National Technical University, specialization "Automation and process control". He came to the market five years ago. As a basis of trade he uses indicator «Murray levels» , also prefers the classical technical analysis.

USD/JPY broke significantly 104.70

After another rebound from STH4 the pair go lower, breaking through the level 3/8 (104.69). Given the declining STH4 and try to gain a foothold below 3/8, the price is likely to continue to fall. The goal is the level of 2/8 (103.12). While STH4 not horizontal, to talk about global pullback to the area of STD1 prematurely. Since the price could easily break through 3/8, you should expect a decrease in the near future. It is not excluded as a preliminary rollback to 3/8.

Trade recommendation:

Sell – 104.60; sl – 105.20; tp – 103.20. 

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