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Remain flat

Remain flat | 26 June 2018

26 June 2018, USD/JPY

Technical observation

USD/JPY has been declining steadily towards the support 109.03 and I expect either a breakout below it or a rejection of price from it followed by a correction to 111.21-111.02.In case of a breakout below 109.03,wait for a correction to it to confirm bearish momentum of price before you short the pair and in case of a rejection from 109.03 followed by a correction to 111.21-111.02,short the pair within the zone with your deal target at 109.03 and stop loss around 111.86.Right now I would advise you remain flat and wait for either a rejection of price at 109.03 or a breakout below it to trade the pair.

Technical levels

Resistance levels

R1.110.07

R2.110.4

R3.111.08

Pivot

109.72

Support levels

S1.109.39

S2.109.04

S3.108.35

Trade signal

Remain flat.

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Imelda Maseno
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