26 June 2018, USD/JPY
Technical observation
USD/JPY has been declining steadily towards the support 109.03 and I expect either a breakout below it or a rejection of price from it followed by a correction to 111.21-111.02.In case of a breakout below 109.03,wait for a correction to it to confirm bearish momentum of price before you short the pair and in case of a rejection from 109.03 followed by a correction to 111.21-111.02,short the pair within the zone with your deal target at 109.03 and stop loss around 111.86.Right now I would advise you remain flat and wait for either a rejection of price at 109.03 or a breakout below it to trade the pair.
Technical levels
Resistance levels
R1.110.07
R2.110.4
R3.111.08
Pivot
109.72
Support levels
S1.109.39
S2.109.04
S3.108.35
Trade signal
Remain flat.
101% Double the volume