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Remain flat

Remain flat | 02 March 2018

02 March 2018, USD/JPY

Remain flat

Technical observation

After a breakout below the support zone (108.03-107.80), price rallied down up to a key line 105.53,it got rejected and was corrected to the zone twice before continuing down. Right now the pair is rallying towards 105.53 and I expect a possible rejection or a breakout below it.In case of a rejection, wait for a pull back to (108.03-107.800 before you re sell the pair and in case of a breakout, wait for a retracement before you continue long, right now I would advise you remain flat. Long positions can only be advised in case there’s a clear breakout above the zone (108.03-107.80).

Technical levels

Resistance levels

R1.107.38

R2.108

R3.109.02

Pivot

107.06

Support levels

S1.106.36

S2.105.97

S3.104.95

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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