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Sell USD now

Sell USD now | 11 April 2018

11 April 2018, USD/JPY

Sell USD now

Technical observation

USDJPY retraced at a key resistance zone (107.52-107.31) four times while on a downward trend. Yesterday price could not penetrate above the zone and was rejected and is currently showing signs of declining towards the key line 104.64,I would advise you sell USD now with your take profit at 104.64 and stop loss around 108.19.I also expect a breakout below 104.64 for a further decline price towards 99.81.In case price breaks below 104.64,remain short with USD after a correction to the line. If price breaks above the zone (107.52-107.31) with a big green candle, wait for a correction to it before you buy USD.

Technical levels

Resistance levels

R1.107.34

R2.107.75

R3.108.43

Pivot

107.08

Support levels

S1.106.65

S2.106.37

S3.105.68

Trade signal

Sell USD now with your take profit at 104.64 and stop loss around 108.19

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Imelda Maseno
Analyst of «FreshForex» company
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