29 August 2018, USD/JPY
Technical observation
Yesterday price went down as predicted and pulled back to the resistance zone 111.32-111.30 again. I expect a rejection of it within the zone for possible bearish momentum towards 111.00 and a possible breakout below 111.00 for a further decline I n price towards 110.78.Resell the pair within 111.32-111.30 after a rejection of price within it with your ideal target at 111.00 and the next at 110.78.Only short positions look ideal on the hourly chart above and can be recommended. On the way downwards the key lines to look for are, 111.00, 110.78, 110.49 and 110.06.Long positions may only be ideal above 111.32.
Technical levels
Resistance levels
R1.111.27
R2.111.3
R3.111.39
Pivot
111.24
Support levels
S1.111.19
S2.111.14
S3.111.06
Trade signal
Re-sell USD/JPY within 111.32-111.30.
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