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Remain flat

Remain flat | 26 April 2018

26 April 2018, USD/JPY

Technical observation

After breaking above the resistance zone 107.54-107.34 and rising towards the resistance line 110.17,USD is now showing signs of retracing to the zone.Im waiting for the first pullback and a rejection at the zone to confirm to me price Is on a bullish move then long USD on the second retracement towards 110.17.If price does not correct to 107.54-107.34,my expectation is that price should rise towards the line 110.17,a breakout above this line will push the price further to the upper side .On your way upwards the lines to look for are,110.17,111.13 and 114.34.Right now Remain flat.

Technical levels

Resistance levels

R1.107.84

R2.108.04

R3.108.42

Pivot: 107.68

Support levels

S1.107.45

S2.107.27

S3.106.89

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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