Sell USD at 106.51 | 06 Marzo 2018

06 Marzo 2018, USD/JPY

Sell USD at 106.51
Technical Observation:
On the 4 hour chart above, potential sellers can be seen around 106.51. While the price is still below this line, I'm still hesitant to enter any position, I choose to wait for rise towards 106.51, then pick a short position towards 105.15 or even lower. You could place a pending sell limit order at 106.51 stop loss above 106.80 and take profit at 105.15. On the way downwards, the key lines to look for include 105.75, 105.15 and 100.50. A break below these lines will push the price further downwards below 100.00.
Technical Levels
Resistance levels
R1: 106.52
R2: 106.83
R3: 107.72
Pivot
105.93
Support Levels
S1: 104.15
S2: 105.04
S3: 105.62
Trade Signal
Sell USD at 106.51 with take profit at 100.00

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Imelda Maseno
Analyst of «FreshForex» company
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