Wait for a correction to 108.55 | 15 February 2018

15 February 2018, USD/JPY

Wait for a correction to 108.55

Technical observation

Recently, the pair on the daily chart above bro below a key support line108.55 and went down. Currently price is still rallying below it towards the key line 105.78.I expect a possible rejection of it at the line and a correction of price to the just broken support line 108.55 and a decline in price towards 105.78 or even lower to 102.69.If price does not get corrected from 105.78 and instead breaks down below it then I would advise you wait for a pull back to it before sell USD with your take profit at 102.69.Right now wait for a retracement to 108.55.

Technical levels

Resistance levels

R1.109.39

R2.109.99

R3.111.25

Pivot

108.80

Support levels

S1.108.13

S2.107.45

S3.106.19

Trade signal

Wait for a retracement to 108.55 then sell USD with your take profit at 105.78 and stop loss at 109.77

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus