We're short | 10 October 2018

10 October 2018, USD/JPY

Technical observation

USD/JPY is trading on a downward trend. Price is currently moving on a bearish momentum and I expect a loss of it at the support 112.72 followed by a rejection and a pullback to the key resistance zone 113.60-113.52.If you are short already remain in the trade with your ideal target at 112.72,and if you have not sold this pair yet, wait for a retracement to 113.60-113.52 then sell this pair within it with your take profit at 112.72 and stop loss slightly above 113.60.Shouls there be a breach below 112.72 with a big red candle, wait for a retracement to it confirming further decline in price before you continue short with this pair.

Technical levels Resistance levels

R1.113.88

R2.113.92

R3.113.99

Pivot

113.89

Support levels

S1.113.81

S2.113.77

S3.113.69

Trade signal

Remain short towards 112.72.

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

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Imelda Maseno
Analyst of «FreshForex» company
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