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Flat | 26 April 2017

26 April 2017, USD/JPY

Flat
Technical Observation:
USD rose almost 170pips but is currently facing a notable resistance zone 111.60-111.38. On the 4 Hour chart above, this is a key sell zone and only a clean breakout above it will trigger further long positions. Buy above 111.60 towards 112.15; sell on bouncing off from 111.38-111.60 with your Sl slightly above 111.60 and TP 109.72. My Advice, remain flat for now and only short USD on bouncing off from 111.38.
Technical levels:
Resistance levels
R1: 111.09
R2: 111.2
R2: 111.31
R2: 111.63
Pivot Point
111.2
Support Levels
S1: 111.15
S2: 111.17
S3: 111.18
S4: 111.19
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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