Flat | 13 April 2018
13 April 2018, USD/JPY
Technical Observation:
Usd is currently trading with an increasing bullish momentum. Yesterday, the price rally higher but is currently around a key daily resistance level 107.37. Unless there's a clear breakout above this level, this is a potential sellers area, therefore, instead of going short immediately, I'm waiting for an attempt breakout above 107.37, then a close below 107.17 then I'll consider a short position towards 104.45. As it is, I choose to remain flat and wait for a clear signal.
Technical Levels
Resistance levels
R1: 107.55
R2: 107.8
R3: 108.41
Pivot
107.18
Support Levels
S1: 105.96
S2: 106.57
S3: 106.94
Trade Signal
Flat
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.
