18 September 2018, USD/JPY
Technical observation
USD/JPY retraced to the key support zone 111.79-111.72 as predicted yesterday, price could not penetrate below the zone and was rejected, it is currently moving up and I expect a rally towards the line 112.53 and a possible breakout above it for a further rise in price ,I bought this pair within 111.79-111.72 and I will maintain this position with my ideal target at 112.53 and stop loss slightly below 111.72.In case of a breakout above 112.53 with a big green candle, wait for a correction to it before you continue long with this pair. Only long positions look ideal and can be recommended on the 4 hour chart above.
Technical levels
Resistance levels
R1.111.02
R2.112.03
R3.112.07
Pivot
111.101
Support levels
S1.111.97
S2.111.95
S3.111.91
Trade signal
Remain long.
Do you know against which currencies JPY is the most profitable?More trading assets here...