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Remain flat

Remain flat | 04 September 2018

04 September 2018, USD/JPY

Remain flat

Technical observation

USD/JPY is trading within the resistance zone 111.51-111.43 and the key supportive line 110.70.I expect either a correction to 111.51-111.43 and a rejection within it for possible downwards movement of price or a pullback to 110.70 and a rejection at it for possible bullish momentum of price towards 111.43.My advice, remain flat temporarily and wait for either to trade the pair on the 4 hour chart above. Should there be a breakout above the zone 111.51-111.43 with a big green candle, wait for a correction to it to confirm possible upward momentum of price before you enter long positions towards 112.15.

Technical levels

Resistance levels

R1.1.3009

R2.1.3062

R3.1.3147

Pivot

1.2979

Support levels

S1.1.2925

S2.1.2892

S3.1.2808

Trade signal

Remain flat.

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Remain flat

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Imelda Maseno
Analyst of «FreshForex» company
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