Short USD | 04 April 2018

04 April 2018, USD/JPY

Short USD

Technical observation

Yesterday USD corrected to the line 106.85 it could not penetrate above it and was rejected. Currently price is rallying below it and I expect bearish movements of price towards the key line 104.68 and a breakout below it followed by a further decline In price towards the lowest key line 100.14, you can short USD now with your take profit at 104.68 and stop loss at 107.95.If price goes above106.85, you can still short USD after a correction and rejection of price to the key line 107.97, as long as price is below it only short positions can be recommended. If price goes above it, wait for a correction to it before you buy.

Technical levels

Resistance levels

R1.107.4

R2.108

R3.109.58

Pivot

106.43

Support levels

S1.105.81

S2.104.83

S3.103.25

Trade signal

Short USD with your take profit at 104.68 and stop loss at 107.95.

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Imelda Maseno
Analyst of «FreshForex» company
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