12 Junio 2018, USD/JPY
Technical observation
After breaking below a support zone 111.56-111.27,USD/JPY corrected to it then rallied down up to a support 107.34, it broke below it then retraced to it severally before breaking above it, price then rallied up to the resistance zone 111.56-111.27 but could not break above it, was rejected then went down and is currently pulling back to the zone for the third time. I expect a rejection of it within the zone for possible bearish momentum towards 107.34. My advice, remain flat and wait for the correction to 111.56-111.27 the short the pair within the zone with your take profit at 107.34 and stop loss around 112.26.
Technical levels
Resistance levels
R1.109.78
R2.110.02
R3.110.56
Pivot
109.49
Support levels
S1.109.24
S2.108.95
S3.108.42
Trade signal
Remain flat.
101% Double the volume