09 July 2018, USD/JPY
Technical observation
USD/JPY is trading on a downward trend.Currenty price is between the resistance zone114.79-113.98 and the support line 107.03. I expect either a rise to 114.79-113.98 or a decline to 107.03.In case of a rise to 114.79-113.98 and a rejection at it, Short USD within it with your take profit at 107.03 and stop loss slightly above 114.79, and in case of a decline to the support 107.03, wait for a breakout below it followed by a correction to it before you short the pair towards 100.59.Right now, remain flat and wait for either the correction to 114.79-113.98 or a breakout below 107.03 to trade USD/JPY.
Technical levels
Resistance levels
R1.110.98
R2.111.49
R3.112.35
Pivot
110.63
Support levels
S1.110.12
S2.109.77
S3.108.91
Trade signal
Remain flat.
101% Double the volume