Short USD | 30 March 2018
30 March 2018, USD/JPY
Technical observation
Yesterday, SD was rejected from the key line 106.82 and is currently showing signs of declining towards the key line 102.77, i expect bearish movements towards the line and a breakout below it for further decline in price. If you had not sold USD yet you can sell it now with your take profit at 102.77 and stop loss at 107.79.If it breaks below 102.77 remain short after a correction to it.As long price remains below the resistance zone (108.06-107.79),only short positions can be advised. You can only buy USD if there’s a clear breach of price above ((108.06-107.79) with a big green candle and a correction to the zone.
Technical levels
Resistance levels
R1.105.13
R2.105.52
R3.106.15
Pivot
104.93
Support levels
S1.104.49
S2.104.26
S3.103.63
Trade signal
Sell USD now with your take profit at 102.77 and stop loss around 107.79.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
