Flat | 13 April 2018

13 April 2018, USD/JPY

Flat
Technical Observation:
Usd is currently trading with an increasing bullish momentum. Yesterday, the price rally higher but is currently around a key daily resistance level 107.37. Unless there's a clear breakout above this level, this is a potential sellers area, therefore, instead of going short immediately, I'm waiting for an attempt breakout above 107.37, then a close below 107.17 then I'll consider a short position towards 104.45. As it is, I choose to remain flat and wait for a clear signal.
Technical Levels
Resistance levels
R1: 107.55
R2: 107.8
R3: 108.41
Pivot
107.18
Support Levels
S1: 105.96
S2: 106.57
S3: 106.94
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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