Short USD now | 12 March 2018

Technical observation

After breaking below a support zone,USD retraced at a resistance zone (107.79-107.13),price then rallied down but was pulled back to the zone, Right now price is rallying below it and is showing signs of declining down towards the key line 100.61, i would advise you short USDJPY now with your take profit at 100.61 and stop loss around 109.39,you can continue short with the pair in case of a breakout below 100.61 and a correction to it.If there’s a clear breach of price above 100.79 with a big green candle, wait for a pullback to the zone before you enter long positions with your ideal target at the line 114.33.

Technical levels

Resistance levels

R1.107.48

R2.108.12

R3.109.83

Pivot

106.41

Support levels

S1.105.77

S2.104.71

S3.103

Trade signal

Short USD now with your take profit at 100.61 and stop loss around 109.39