Wait for a close within (107.52-107.31) | 18 April 2018
18 April 2018, USD/JPY
Technical observation
Yesterday, USDJPY went down as predicted and is currently pulling back to the zone and I don’t expect a breakout above it but a rejection of it for bearish movements of price in the coming days. My advice, wait for a close within the zone then sell USD with your take profit at 104.64 and stop loss around 108.27.If price beaks below 104.64 continue short with USD after a correction to it.In case of a breakout above (107.52-107.31), wait for a correction to it to confirm price is on a bullish move then buy USD towards the key line 110.11, if price breaks above it continue long with USD after a correction to it.
Technical levels
Resistance levels
R1.107.52
R2.107.78
R3.108.39
Pivot
107.19
Support levels
S1.106.9
S2.106.55
S3.105.94
Trade signal
Wait for a close within (107.52-107.31) to sell USD with your take profit at 104.64 and stop loss around 108.27.
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.
