Wait for a correction to109.04-108.80 | 30 May 2018
30 May 2018, USD/JPY
Technical observation
USD/JPY went down below a support zone 109.04-108.80 with a big red candle, I expect a correction to it for possible bearish momentum, I would advise you wait for a correction to it before you short USD/JPY. You cam short USD/JPY on the second retracement to it just to make sure it is not a false breakout since the pair was on an upward movement. In case it is a false breakout and price breaches above the zone, wait for a correction to it then continue long with the pair towards the resistance line 111.06.Right now wait for the retracements to 109.04-108.80 to short the pair on the second retracement.
Technical levels
Resistance levels
R1.109.62
R2.109.85
R3.110.32
Pivot
109.39
Support levels
S1.109.14
S2.108.89
S3.108.41
Trade signal
Wait for a correction to 109.04-108.80 to short USD/JPY on the second retracement to the zone.
101% Double the volume
!Attention!
All bonus participates in drawdown!
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.
