Wait for a correction | 03 Abril 2018

03 Abril 2018, USD/JPY

Wait for a correction

Technical observation

USDJPY retraced at a key resistance line 107.08 twice before proceeding down to a key line 104.68.Currently price is rallying below the zone and I expect pullback to it and a possible rejection for bearish movement of price towards 104.68 and a breakout below it for further decline in price towards the lower key line 100.14.My advice, wait for a correction and a rejection at 107.08 then short USD with your take profit at 104.68 and stop loss around 107.98.If price breaks above 107.68 and gets corrected at 107.98,you can still short USD from 107.98.Buy USD after a breakout above 107.98 and a correction to it.

Technical levels

Resistance levels

R1.107.4

R2.108

R3.109.58

Pivot

106.41

Support levels

S1.105.81

S2.104.83

S3.103.25

Trade signal

Wait for a correction and a rejection at 107.08 then short USD with your take profit at 104.68 and stop loss around 107.98.

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.