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Buy USD/JPY within 111.79-111.72.

Buy USD/JPY within 111.79-111.72. | 17 September 2018

17 September 2018, USD/JPY

Buy USD/JPY within 111.79-111.72.

Technical observation

On the 4hour chart above USD/JPY is rallying above a supportive zone 111.79-111.72.I expect a pullback to the zone for the second time followed by a rejection within it for upwards momentum of price towards 112.53.Wait for the correction to the above mentioned zone then long USD within it with your take profit at 112.53 and stop loss slightly below 111.72.In case of a breakout above 112.53, wait for a correction to it confirming a further rise in price before you continue long with the pair. Right now only long positions look ideal and can be recommended on the chart above towards the resistance line 112.53.

Technical levels

Resistance levels

R1.111.02

R2.112.03

R3.112.07

Pivot

111.99

Support levels

S1.111.97

S2.111.95

S3.111.91

Trade signal

Buy USD/JPY within 111.79-111.72.

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

Buy USD/JPY within 111.79-111.72.

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Imelda Maseno
Analyst of «FreshForex» company
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