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Remain flat

Remain flat | 22 June 2018

22 June 2018, USD/JPY

Remain flat

Technical observation

USD/JPY is still on a downward movement, yesterday’s candle was bearish, it went down but did not reach the support level 109.03.I expect a correction of price to 111.21-111.02 followed by a rejection of it within the zone for possible bearish momentum towards 109.03.In case it does not pullback to 111.21-111.02 and instead rallies down towards 109.03,short term traders can wait for a rejection of it at 109.03 to long USD towards 111.02,while long term traders would wait for a breakout below 109.03 followed by a correction to it to short USD towards 107.34.Right now remain flat .

Technical levels

Resistance levels

R1.110.65

R2.110.76

R3.111

Pivot

110.53

Support levels

S1.110.41

S2.110.27

S3.110.03

Trade signal

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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