Sell USD/JPY within 111.21-110.92 | 03 July 2018

Technical observation

After several days of rising steadily towards the resistance zone 111.21-110.92,USD/JPY is currently within the zone, yesterday’s candle was rejected and could not penetrate above it. I expect bearish momentum of price towards the support 109.03 and a breach below it for a further decline in price to the lower support line 107.34.You can short the pair now within the zone with your take profit at 109.03 and stop loss slightly above 111.21.In case of a breakout below 109.03, continue short after a correction to it towards 107.34.Long positions may only be recommended above 111.21 towards 113.59.

Technical levels

Resistance levels

R1.110.07

R2.110.4

R3.111.08

Pivot

109.72

Support levels

S1.109.39

S2.109.04

S3.108.36

Trade signal

Short the pair now within the zone with your take profit at 109.03 and stop loss slightly above 111.21.

101% Double the volume