Short USD | 30 March 2018

30 March 2018, USD/JPY

Short USD

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.

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Imelda Maseno
Analyst of «FreshForex» company
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