Main >
Analytics
>
Fresh forecast
>
Forex Technical Analysis: Trend potential
>
Wait for a correction to109.04-108.80

Wait for a correction to109.04-108.80 | 30 May 2018

30 May 2018, USD/JPY

Wait for a correction to109.04-108.80

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!
More detailed…

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Login

Tunjukkan kata laluan

Hide password

 Terlupa kata laluan anda?
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .

Our best awards:

FreshForex is a brand that provides access to online trading for clients from more than 158 countries all over the world. The Company's partners are the licensed European liquidity providers, banks, payment aggregators and systems with which the company has been cooperating for more than 19 years.
Clients must be at least 18 years old to use the services of the Company.
The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage carries high risks and can result in both profits and losses. Potential losses are limited by the deposit amount. Before deciding to trade, the client should assess their risk tolerance, experience, and knowledge level.

Freshforex.com uses cookies for better website operation, traffic flow analysis, and personalization. By using this website you agree to our Cookie Policy.
User Data privacy is protected in accordance with GDPR. The SSL certificate installed on the website transfers the information over a secure protocol.
The site contains links to websites of third parties. The Company does not check or control the third-party resources that are in any way related to the FreshForex site, so the Company is not responsible for any third-party information or materials posted.
By creating a link to a third party website, the Company does not endorse or recommend any products or services offered by the third party.
The website content is intended for informational purposes only. It should not be regarded as an offer or solicitation to any person in any jurisdiction in which such an offer or solicitation is not authorized. It also should not be considered as an offer/solicitation to any person to whom it would be unlawful to make such an offer or solicitation, nor regarded as a recommendation to buy, sell or otherwise deal with any particular currency or any other trading asset investment. If you are not sure about your local trading regulations, please, leave this website immediately.
© 2004—2024 FreshForex – Forex broker
Reproduction of the contents is allowed only with active hyperlink to original source.