Remain flat | 05 June 2018

Technical observation

USD/JPY is on an upward trend with three retracements at a support zone 108.72-108.50,if longed the pair last week on the last retracement to the zone, remain in the trade with your ideal target at 110.94,if you had not bought it yet i would advise you remain flat and wait for either a retracement to 108.72-108.50 then long the pair within it, or wait for a breakout above 110.94 followed by a retracement to it then long USD.I expect a bullish momentum towards 110.94 and even a breakout above it for a further rise in price towards 113.59.Short positions may only be recommended in case of a clear breach below108.50.

Technical levels

Resistance levels

R1.109.83

R2.110.14

R3.110.84

Pivot

109.43

Support levels

S1.109.12

S2.108.72

S3.108.02

Trade signal

Remain flat.

101% Double the volume