14 May 2018, USD/JPY
Technical observation
After rising above the resistance zone 107.91-106.93, USD/JPY continued to rise towards 114.34.I expect a correction of price to the broken zone for possible bullish momentum towards 114.34 and a breakout above it for further rise in price towards 121.13.I would advise you remain flat and wait for a correction to the zone then buy USD within it with your take profit at 114.34 and stop loss around 104.33.Remain long with USD in case of a breakout above 114.34 and a correction to it with your idea target at 121.13.On the chart above only long positions can be recommended within the zone 107.91-106.93.
Technical levels
Resistance levels
R1.110.02
R2.110.65
R3.111.91
Pivot
109.39
Support levels
S1.108.75
S2.108.12
S3.106.86
Trade signal
Remain flat.