28 Junio 2018, USD/JPY
Technical observation
On the chart above price is rallying between a resistance zone 111.21-111.02 and a support 109.03.Yesterday price rose towards the zone but could not reach it.I expect either a correction to the zone or a decline in price towards109.03 and a breakout below it followed by a correction to it for possible bearish momentum towards the support 107.34.My advice, remain flat and wait for either to short the pair. Long positions may only be recommended in case there’s a clear breakout above the resistance zone 111.21-111.02 with a big red candle and a correction to it c confirming bullish movement of price.
Technical levels
Resistance levels
R1.110.07
R2.110.4
R3.111.08
Pivot
109.76
Support levels
S1.109.39
S2.109.04
S3.108.35
Trade signal
Remain flat.
101% Double the volume