Remain flat | 26 July 2018

26 July 2018, USD/JPY

Remain flat

Technical observation

Yesterday, USD/JPY did not rise and predicted, instead it went down and is still is still moving down below the support zone 111.23-110.93.I expect either a clear breakout below the zone with a big red candle followed by a correction to it for possible bearish movements of price ,or a false breakout below the zone followed by a another breakout above it for upwards movement of USD. Right now remain flat and wait for the breach below the zone .If price is corrected to the zone more than once after the breach below it, you can short the pair on the second retracement to the zone with your ideal target at 108.73.

Technical levels

Resistance levels

R1.111.06

R2.111.19

R3.111.43

Pivot

110.100

Support levels

S1.110.83

S2.110.72

S3.110.49

Trade signal

Remain flat.

Do you know against which currencies JPY is the most profitable?

Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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