23 Julio 2018, USD/JPY
Technical observation
Last week the pair on the daily chart above went down after a rejection of it around the resistance zone 115.02-114.12.I still expect it to decline towards the support 107.12 and breach below it for a further decline in price. If you sold the pair last week remain short with your ideal target at 107.02, If you hadn’t sold it yet you can still short it now with your ideal target at 107.02 and stop loss slightly above 115.02.In case of a break below 107.02,wait for a correction to it then continue short with the pair. If there’s clear breakout above 115.02 with a big green candle, wait for a correction to it before you long USD.
Technical levels
Resistance levels
R1.112.63
R2.113.8
R3.115.6
Pivot
112.01
Support levels
S1.110.84
S2.110.21
S3.108.41
Trade signal
Remain short.
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