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Remain flat

Remain flat | 18 June 2018

18 June 2018, USD/JPY

Remain flat

Technical observation

USD/JPY is on a downward trend, price retraced at a resistance zone 114.56-113.98 four times before moving down towards 106.98,it not breach below it and rose towards 114.56-113.98.Currenlty price is between the zone 114.56-113.98 and the support 106.98.I expect either a retracement to 114.56-113.98 followed by a rejection of price within it for possible bearish momentum towards 106.98.In case it does not retrace to 114.56-113.98 and instead breaches below 106.98,wait for a correction to it then short the pair with your ideal target at 100.59.Right now remain flat.

Technical levels

Resistance levels

R1.111.31

R2.111.95

R3.113.64

Pivot

110.26

Support levels

S1.109.62

S2.108.58

S3.106.89

Trade signal

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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